Alembic Global Sticks to Their Buy Rating for Westlake Chemical (WLK)

Alembic Global analyst Hassan Ahmed reiterated a Buy rating on Westlake Chemical (WLKResearch Report) today and set a price target of $145.00. The company’s shares closed last Friday at $90.85.

Ahmed covers the Basic Materials sector, focusing on stocks such as Dow Inc, Celanese, and Huntsman. According to TipRanks, Ahmed has an average return of 5.6% and a 44.27% success rate on recommended stocks.

Currently, the analyst consensus on Westlake Chemical is a Moderate Buy with an average price target of $119.54, which is a 31.58% upside from current levels. In a report released on September 13, Deutsche Bank also maintained a Buy rating on the stock with a $115.00 price target.

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The company has a one-year high of $140.40 and a one-year low of $79.56. Currently, Westlake Chemical has an average volume of 748.2K.

Based on the recent corporate insider activity of 52 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.

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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