BMO Capital Markets downgraded shares of WestRock (NYSE:WRK) from an outperform rating to a market perform rating in a report published on Tuesday morning, The Fly reports. The firm currently has $54.00 price objective on the basic materials company’s stock, down from their prior price objective of $80.00.

A number of other equities analysts have also weighed in on WRK. ValuEngine lowered shares of WestRock from a hold rating to a sell rating in a research report on Monday, July 2nd. Stephens set a $63.00 target price on shares of WestRock and gave the stock a weight rating in a research report on Thursday, July 5th. Barclays dropped their target price on shares of WestRock from $64.00 to $62.00 and set an equal weight rating for the company in a research report on Thursday, August 9th. Zacks Investment Research lowered shares of WestRock from a hold rating to a sell rating in a research report on Thursday, October 4th. Finally, Citigroup dropped their target price on shares of WestRock from $80.00 to $75.00 and set a buy rating for the company in a research report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $67.73.

WRK opened at $42.61 on Tuesday. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.18 and a beta of 1.32. WestRock has a 1-year low of $41.86 and a 1-year high of $71.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95.

WestRock (NYSE:WRK) last issued its earnings results on Thursday, August 2nd. The basic materials company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.03. WestRock had a net margin of 11.31% and a return on equity of 8.49%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. WestRock’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts anticipate that WestRock will post 4.06 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in WestRock by 257.7% during the first quarter. Royal Bank of Canada now owns 2,395,435 shares of the basic materials company’s stock valued at $153,716,000 after purchasing an additional 1,725,807 shares during the last quarter. Bank of Montreal Can bought a new position in WestRock during the second quarter valued at $47,680,000. Millennium Management LLC lifted its position in WestRock by 10,291.3% during the first quarter. Millennium Management LLC now owns 842,946 shares of the basic materials company’s stock valued at $54,092,000 after purchasing an additional 834,834 shares during the last quarter. GMT Capital Corp bought a new position in WestRock during the second quarter valued at $29,742,000. Finally, American Century Companies Inc. lifted its position in WestRock by 8.5% during the second quarter. American Century Companies Inc. now owns 4,806,064 shares of the basic materials company’s stock valued at $274,042,000 after purchasing an additional 375,908 shares during the last quarter. Hedge funds and other institutional investors own 85.14% of the company’s stock.

WestRock Company Profile

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

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Analyst Recommendations for WestRock (NYSE:WRK)

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