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Barclays Keeps a Hold Rating on Westlake Chemical (WLK)

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In a report issued on February 28, Michael Leithead from Barclays maintained a Hold rating on Westlake Chemical (WLKResearch Report), with a price target of $128.00. The company’s shares closed last Tuesday at $107.00, close to its 52-week high of $111.49.

According to TipRanks.com, Leithead is a 3-star analyst with an average return of 3.1% and a 67.3% success rate. Leithead covers the Basic Materials sector, focusing on stocks such as Orion Engineered, Crown Holdings, and Methanex.

Currently, the analyst consensus on Westlake Chemical is a Moderate Buy with an average price target of $125.00, which is a 13.2% upside from current levels. In a report issued on February 23, BMO Capital also maintained a Hold rating on the stock with a $126.00 price target.

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The company has a one-year high of $111.49 and a one-year low of $78.06. Currently, Westlake Chemical has an average volume of 566.2K.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2021, Albert Chao, the President & CEO of WLK sold 30,787 shares for a total of $2,827,774.

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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