SunTrust Robinson Humphrey Upgrades Westlake Chemical Corporation to Buy with Price Target $52.00

Brokerage firm SunTrust Robinson Humphrey Upgrades its rating on Westlake Chemical Corporation(NYSE:WLK). In a research note issued to the investors, the brokerage major Raises the price-target to $52.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by SunTrust Robinson Humphrey was issued on Jun 15, 2016.

In a different note, On May 16, 2016, JP Morgan said it Maintains its rating on Westlake Chemical Corporation. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Overweight’ by the firm.

Westlake Chemical Corporation (WLK) shares turned negative on Tuesdays trading session with the shares closing down -0.38 points or -0.87% at a volume of 10,34,900. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.11. The peak price level was also seen at $44.11 while the days lowest was $43.12. Finally the shares closed at $43.48. The 52-week high of the shares is $73.05 while the 52-week low is $39.9. According to the latest information available, the market cap of the company is $5,666 M.

Westlake Chemical Corporation(WLK) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $975.19M. Analysts had an estimated revenue of $1.02B. Earnings per share were $0.94. Analysts had estimated an EPS of $0.93.

Several Insider Transactions has been reported to the SEC. On Nov 12, 2015, George J Mangieri (VP & Chief Accounting Officer) sold 2,785 shares at $60.20 per share price.Also, On Aug 13, 2015, Robert T Blakely (director) sold 5,143 shares at $63.00 per share price.On May 27, 2015, Jeffrey L Taylor (Sr VP, Polyethylene) sold 8,143 shares at $70.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals vinyls polymers and fabricated building products. The Company’s products include a range of chemicals used in the world which are fundamental to many diverse consumer and industrial markets including flexible and rigid packaging automotive products coatings residential and commercial construction as well as other durable and non-durable goods. The Company operates in two principal operating segments Olefins and Vinyls. The Company is an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products. The Olefins segment manufactures a range of petrochemical products. The Vinyls segment primarily offers PVC vinyl chloride monomer (VCM) ethylene dichloride (EDC) chlorine caustic soda and through Westlake Chemical OpCo LP ethylene.

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