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Alembic Global Maintains Their Buy Rating on Westlake Chemical (WLK)

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In a report issued on March 14, Hassan Ahmed from Alembic Global maintained a Buy rating on Westlake Chemical (WLKResearch Report), with a price target of $140.00. The company’s shares closed last Tuesday at $115.69, close to its 52-week high of $121.71.

According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 9.9% and a 49.9% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Venator Materials, and Chemours Company.

Currently, the analyst consensus on Westlake Chemical is a Moderate Buy with an average price target of $125.38.

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The company has a one-year high of $121.71 and a one-year low of $78.06. Currently, Westlake Chemical has an average volume of 606.7K.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WLK in relation to earlier this year. Earlier this month, Robert Buesinger, the EVP, HIP, IT & Digital of WLK sold 22,555 shares for a total of $2,652,694.

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.

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