RBC Capital Sticks to Its Buy Rating for Westlake Chemical Corp

By Ryan Adsit

In a report released today, Arun Viswanathan from RBC Capital reiterated a Buy rating on Westlake Chemical Corp (NYSE: WLK), with a price target of $130. The company’s shares closed yesterday at $110.33.

According to TipRanks.com, Viswanathan is a 5-star analyst with an average return of 12.0% and a 62.2% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Venator Materials Plc.

Currently, the analyst consensus on Westlake Chemical Corp is Moderate Buy and the average price target is $125.33, representing a 13.6% upside.

In a report issued on April 2, Alembic Global also maintained a Buy rating on the stock with a $130 price target.

Westlake Chemical Corp’s market cap is currently $14.28B and has a P/E ratio of 11.04. The company has a book value ratio of 2.9296.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. Last month, Andrew Kenner, the SVP – Chemical Manufacturing of WLK sold 6,028 shares for a total of $723,360.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Westlake Chemical Corp. manufactures and markets petrochemicals, polymers and fabricated building products. It operates through the Olefins and Vinyls segments. The Olefins segment manufactures ethylene, polyethylene, styrene, and associated co-products at the manufacturing facility in Lake Charles and polyethylene at the Longview facility.