KeyCorp Comments on Westrock Company’s Q2 2017 Earnings (WRK)

KeyCorp Comments on Westrock Company’s Q2 2017 Earnings (WRK)

Westrock Company (NYSE:WRK) – Analysts at KeyCorp lowered their Q2 2017 EPS estimates for Westrock Company in a note issued to investors on Tuesday. KeyCorp analyst A. Josephson now anticipates that the firm will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.60. KeyCorp also issued estimates for Westrock Company’s Q4 2017 earnings at $0.77 EPS.

Other equities analysts have also issued reports about the stock. Bank of America Corp upgraded shares of Westrock Company from a “neutral” rating to a “buy” rating in a report on Friday. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 target price (up from $59.00) on shares of Westrock Company in a report on Wednesday. BMO Capital Markets reiterated a “buy” rating and set a $62.00 target price on shares of Westrock Company in a report on Wednesday. Credit Suisse Group reissued a “buy” rating and set a $56.00 price target on shares of Westrock Company in a research report on Monday, November 7th. Finally, Zacks Investment Research downgraded shares of Westrock Company from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Westrock Company currently has a consensus rating of “Hold” and an average target price of $53.58.

Westrock Company (NYSE:WRK) traded down 0.75% during trading on Friday, reaching $54.01. The company had a trading volume of 710,030 shares. The firm’s 50 day moving average price is $52.23 and its 200 day moving average price is $47.90. Westrock Company has a 12-month low of $29.73 and a 12-month high of $56.12. The firm has a market capitalization of $13.79 billion, a PE ratio of 100.39 and a beta of 1.22.

In other news, insider Robert A. Feeser sold 23,670 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $51.28, for a total transaction of $1,213,797.60. Following the completion of the sale, the insider now owns 93,870 shares of the company’s stock, valued at approximately $4,813,653.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director G Stephen Felker sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the sale, the director now directly owns 73,420 shares of the company’s stock, valued at approximately $3,671,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,670 shares of company stock valued at $7,014,698. 2.68% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Capital World Investors increased its stake in shares of Westrock Company by 13.5% in the third quarter. Capital World Investors now owns 11,750,724 shares of the company’s stock worth $569,675,000 after buying an additional 1,395,000 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Westrock Company by 3.5% in the third quarter. BlackRock Fund Advisors now owns 8,151,320 shares of the company’s stock worth $395,176,000 after buying an additional 279,184 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Westrock Company by 87.3% in the second quarter. American Century Companies Inc. now owns 4,856,190 shares of the company’s stock worth $188,760,000 after buying an additional 2,263,409 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Westrock Company by 0.5% in the second quarter. Franklin Resources Inc. now owns 4,003,432 shares of the company’s stock worth $155,613,000 after buying an additional 18,432 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Westrock Company by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 2,969,876 shares of the company’s stock worth $143,981,000 after buying an additional 40,010 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

About Westrock Company

Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.

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