Smurfit Westrock (NYSE:SW) Shares Gap Down – Here’s What Happened

Smurfit Westrock Ltd (NYSE:SW) shares gapped down before the market opened on Tuesday . The stock had previously closed at $54.88, but opened at $53.40. Smurfit Westrock shares last traded at $54.12, with a volume of 360,514 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SW. Citigroup lifted their price objective on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a report on Monday, January 6th. Morgan Stanley raised their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Truist Financial assumed coverage on shares of Smurfit Westrock in a research report on Tuesday, January 21st. They set a “buy” rating and a $62.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.70.

Smurfit Westrock Trading Down 1.7 %

The stock has a market capitalization of $28.06 billion, a PE ratio of 299.82 and a beta of 1.03. 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 firm has a 50-day moving average of $53.93.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). Smurfit Westrock had a negative net margin of 0.12% and a positive return on equity of 5.98%. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the previous year, the company posted $0.81 EPS. As a group, analysts predict that Smurfit Westrock Ltd will post 2.65 earnings per share for the current year.

Insider Transactions at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the sale, the insider now owns 149,911 shares in the company, valued at $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Smurfit Westrock

Hedge funds have recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in Smurfit Westrock during the fourth quarter worth $25,000. Mather Group LLC. purchased a new stake in Smurfit Westrock during the third quarter worth $25,000. Versant Capital Management Inc purchased a new stake in Smurfit Westrock during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after buying an additional 279 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in Smurfit Westrock during the third quarter worth $26,000. 83.38% of the stock is owned by hedge funds and other 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.