Alembic Global Keeps a Buy Rating on Westlake Chemical (WLK)

By Ryan Adsit

In a report released today, Hassan Ahmed from Alembic Global reiterated a Buy rating on Westlake Chemical (WLKResearch Report), with a price target of $47.00. The company’s shares closed last Friday at $40.38.

According to TipRanks.com, Ahmed has 0 stars on 0-5 stars ranking scale with an average return of -14.4% and a 28.7% success rate. Ahmed covers the Industrial Goods sector, focusing on stocks such as Venator Materials, LyondellBasell, and Celanese.

Currently, the analyst consensus on Westlake Chemical is a Hold with an average price target of $48.54.

See today’s analyst top recommended stocks >>

The company has a one-year high of $75.66 and a one-year low of $28.99. Currently, Westlake Chemical has an average volume of 944K.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WLK in relation to earlier this year. Most recently, in February 2020, Albert Chao, the President & CEO of WLK bought 57,800 shares for a total of $593,028.

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. The Vinyls segment manufactures and sells building products fabricated from polyvinyl chloride, including pipe, fittings, profiles, foundation, building products, fence and deck components, window, and door components, film, and sheet products. The company was founded by Ting Tsung Chao in 1986 and is headquartered in Houston, TX.