It Seems Westlake Chemical Corporation (WLK) Will Go Up. Just Reaches 52-Week High

July 17, 2017 - By Winifred Garcia

Investors sentiment increased to 0.93 in Q4 2016. Its up 0.18, from 0.75 in 2016Q3. It is positive, as 41 investors sold Westlake Chemical Corporation shares while 71 reduced holdings. 49 funds opened positions while 55 raised stakes. 35.89 million shares or 1.17% more from 35.47 million shares in 2016Q3 were reported.
Parallax Volatility Advisers Ltd Partnership holds 0% or 917 shares. Bowling Port Mngmt Limited Liability accumulated 31,257 shares. Old Commercial Bank In invested in 9,198 shares or 0.03% of the stock. 45,781 were reported by Brandywine Global Invest Mgmt Lc. Price Michael F holds 1.7% or 250,000 shares in its portfolio. Ftb owns 427 shares for 0% of their portfolio. Nationwide Fund Advisors reported 0% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). Huntington National Bank stated it has 0% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). Toronto Dominion Bank reported 2,000 shares. National Bank & Trust Of America De stated it has 94,158 shares. Carlson Cap Ltd Partnership accumulated 0.14% or 201,693 shares. Utah Retirement System owns 6,890 shares or 0.01% of their US portfolio. Cornerstone Capital Mngmt Holdg Ltd Liability Corp has invested 0.03% in Westlake Chemical Corporation (NYSE:WLK). First Quadrant Ltd Partnership Ca has invested 0.02% in Westlake Chemical Corporation (NYSE:WLK). Monetta Svcs, a Illinois-based fund reported 12,000 shares.

Since March 1, 2017, it had 0 insider purchases, and 3 sales for $1.72 million activity. Bender Mark Steven also sold $771,785 worth of Westlake Chemical Corporation (NYSE:WLK) shares. Buesinger Robert F. also sold $542,786 worth of Westlake Chemical Corporation (NYSE:WLK) shares.

The stock of Westlake Chemical Corporation (NYSE:WLK) hit a new 52-week high and has $75.53 target or 7.00 % above today’s $70.59 share price. The 9 months bullish chart indicates low risk for the $9.17B company. The 1-year high was reported on Jul, 17 by Barchart.com. If the $75.53 price target is reached, the company will be worth $641.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 151,078 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 45.05% since July 17, 2016 and is uptrending. It has outperformed by 28.35% the S&P500.

Wall Street await Westlake Chemical Corporation (NYSE:WLK) to release earnings on July, 27. Analysts forecast EPS of $1.16, down exactly $0.05 or 4.13 % from 2014’s $1.21 EPS. The expected WLK’s profit could reach $150.71M giving the stock 15.21 P/E in the case that $1.16 earnings per share is reported. After posting $1.26 EPS for the previous quarter, Westlake Chemical Corporation’s analysts now forecast -7.94 % negative EPS growth.

Westlake Chemical Corporation (NYSE:WLK) Ratings Coverage

Among 10 analysts covering Westlake Chemical (NYSE:WLK), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Westlake Chemical had 25 analyst reports since July 24, 2015 according to SRatingsIntel. The company was downgraded on Thursday, November 5 by RBC Capital Markets. The firm has “Buy” rating by Cowen & Co given on Thursday, July 13. The firm earned “Buy” rating on Monday, June 5 by RBC Capital Markets. The rating was maintained by Deutsche Bank on Thursday, September 17 with “Hold”. The stock of Westlake Chemical Corporation (NYSE:WLK) earned “Outperform” rating by Cowen & Co on Thursday, September 1. The rating was maintained by RBC Capital Markets with “Buy” on Wednesday, April 26. The firm earned “Overweight” rating on Tuesday, August 16 by JP Morgan. The firm has “Buy” rating by Citigroup given on Thursday, February 9. The firm has “Neutral” rating by Goldman Sachs given on Monday, August 10. Suntrust Robinson upgraded Westlake Chemical Corporation (NYSE:WLK) on Wednesday, June 15 to “Buy” rating.

More notable recent Westlake Chemical Corporation (NYSE:WLK) news were published by: Nasdaq.com which released: “Westlake Chemical Upped to Strong Buy on Solid Prospects” on July 12, 2017, also Nasdaq.com with their article: “Zacks.com featured highlights: H&R Block, Lazard, Westlake Chemical, Aetna and …” published on July 17, 2017, Seekingalpha.com published: “Westlake Chemical (WLK) Q1 2017 Results – Earnings Call Transcript” on May 02, 2017. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Nasdaq.com and their article: “Is Westlake Chemical Corp. (WLK) a Suitable Value Pick?” published on June 28, 2017 as well as Zacks.com‘s news article titled: “Is Westlake Chemical (WLK) Stock a Solid Choice Right Now? June 27, 2017” with publication date: June 27, 2017.

Westlake Chemical Corporation is a global maker and marketer of basic chemicals, vinyls, polymers and building products. The company has market cap of $9.17 billion. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods. It has a 22.22 P/E ratio. The Company’s divisions include Olefins and Vinyls.

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