Are Westlake Chemical Corporation (NYSE:WLK) Shares Headed Higher?

Equity research analysts have provided views on where they believe the stock will be trading in the future. According to Thomson Reuters, analysts are projecting a consensus target price of $74.14 on company shares.In order to arrive at a price target, analysts and investors alike use various metrics to determine where the stock might be headed. One of the most common is the Price to Earnings Ratio or P/E Ratio. This is calculated by taking the current share price and dividing it by the forecasted earnings per share. As of writing, Westlake Chemical Corporation has a price to earnings ratio of 19.82. Taking a step further, investors can also look to a firm’s price to earnings growth or PEG ratio. The stock has a current PEG of 1.48 .

Some other technicals to consider would be the moving averages of the company. In comparing the current price level of the equity to their moving averages, the shares are trading $0.81 off of the 50-day average of $68.53 and $4.29 away from the 200-day moving average of $65.05 .

Another important factor to consider when evaluating a stock’s current and future value are the 52 week high and low levels. As of the most recent bid at the time of writing, Westlake Chemical Corporation shares are trading -3.69% away from the 52-week high mark of 72.00 and +45.83% off the 52-week bottom of 47.55.

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