Smurfit Westrock (NYSE:SW) Coverage Initiated at Truist Financial

Investment analysts at Truist Financial started coverage on shares of Smurfit Westrock (NYSE:SW) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $62.00 price target on the stock. Truist Financial’s price objective indicates a potential upside of 17.08% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Argus initiated coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Wells Fargo & Company lowered 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 report on Monday, October 7th. Finally, Morgan Stanley increased their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.70.

Smurfit Westrock Stock Performance

Shares of NYSE SW opened at $52.95 on Tuesday. The firm’s 50 day moving average price is $53.58. Smurfit Westrock has a 52-week low of $38.55 and a 52-week high of $56.99. 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 market capitalization of $27.54 billion, a PE ratio of 294.20 and a beta of 1.03.

Insider Buying and Selling at Smurfit Westrock

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

Institutional Investors Weigh In On Smurfit Westrock

Hedge funds have recently modified their holdings of the company. AMF Tjanstepension AB bought a new stake in shares of Smurfit Westrock in the third quarter worth $8,519,000. Czech National Bank acquired a new position in Smurfit Westrock in the third quarter valued at $4,967,000. SG Americas Securities LLC bought a new stake in Smurfit Westrock during the third quarter valued at $843,000. Park Avenue Securities LLC acquired a new stake in Smurfit Westrock during the 3rd quarter worth about $561,000. Finally, GAMMA Investing LLC bought a new position in shares of Smurfit Westrock in the 3rd quarter worth about $249,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

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.