Alembic Global Believes Westlake Chemical Corp (NYSE: WLK) Won’t Stop Here

By Austin Angelo

In a report issued on May 14, Hassan Ahmed from Alembic Global reiterated a Buy rating on Westlake Chemical Corp (NYSE: WLK), with a price target of $130. The company’s shares closed yesterday at $120.73, close to its 52-week high of $121.94.

According to TipRanks.com, Ahmed is a 5-star analyst with an average return of 14.3% and a 71.0% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Venator Materials Plc, LyondellBasell, and Celanese Corp.

Currently, the analyst consensus on Westlake Chemical Corp is Moderate Buy and the average price target is $125.50, representing a 4.0% upside.

In a report issued on May 11, Cowen & Co. also reiterated a Buy rating on the stock with a $124 price target.

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Westlake Chemical Corp’s market cap is currently $15.65B and has a P/E ratio of 10.86. The company has a Price to Book ratio of 3.04.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Mark Steven Bender, the EVP & CFO of WLK sold 23,506 shares for a total of $2,757,959.

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.