Westlake Chemical Reaches New 52-Week High (WLK)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK ( TheStreet) -- Westlake Chemical Corporation (NYSE: WLK) hit a new 52-week high Tuesday as it is currently trading at $69.99, above its previous 52-week high of $69.86 with 18,725 shares traded as of 10:39 a.m. ET. Average volume has been 574,600 shares over the past 30 days.

Westlake Chemical has a market cap of $4.53 billion and is part of the basic materials sector and chemicals industry. Shares are up 70.5% year to date as of the close of trading on Monday.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates in two segments, Olefins and Vinyls. The company has a P/E ratio of 15.5, above the average chemicals industry P/E ratio of 15.3 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Westlake Chemical as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Westlake Chemical Ratings Report.

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