Smurfit Westrock (NYSE:SW) Given “Outperform” Rating at Royal Bank of Canada

Smurfit Westrock (NYSE:SW)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $58.00 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 14.04% from the company’s previous close.

Several other brokerages also recently commented on SW. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Citigroup started coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Price Performance

Shares of SW traded up $0.51 during mid-day trading on Friday, hitting $50.86. 671,826 shares of the company’s stock were exchanged, compared to its average volume of 5,206,385. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock has a 50-day moving average of $47.39. The firm has a market capitalization of $26.46 billion, a P/E ratio of 281.89 and a beta of 1.04. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $54.32.

Institutional Investors Weigh In On Smurfit Westrock

Hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $25,000. CVA Family Office LLC bought a new position in shares of Smurfit Westrock in the third quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in shares of Smurfit Westrock during the third quarter valued at about $32,000. Waldron Private Wealth LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth about $35,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $42,000. 83.38% of the stock is currently owned by institutional investors.

About Smurfit Westrock

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.