Smurfit Westrock (NYSE:SW) Coverage Initiated at Citigroup

Equities researchers at Citigroup began coverage on shares of Smurfit Westrock (NYSE:SW) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $57.00 price target on the stock. Citigroup’s price target points to a potential upside of 24.29% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley initiated coverage on shares of Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a report on Wednesday, July 31st. Redburn Atlantic began coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Jefferies Financial Group restated a “hold” rating and issued a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.57.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $45.86 on Wednesday. The business has a 50-day simple moving average of $46.00. Smurfit Westrock has a twelve month low of $38.55 and a twelve month high of $50.60. The company has a market cap of $23.82 billion, a price-to-earnings ratio of 50.40 and a beta of 1.05.

Smurfit Westrock (NYSE:SW) last announced its earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $7.91 billion. On average, sell-side analysts expect that Smurfit Westrock will post 2.6 EPS for the current fiscal year.

Institutional Trading of Smurfit Westrock

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. bought a new position in shares of Smurfit Westrock during the third quarter valued at about $62,832,000. Compagnie Lombard Odier SCmA purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $39,627,000. Boston Common Asset Management LLC bought a new position in Smurfit Westrock during the 3rd quarter valued at approximately $16,262,000. Swedbank AB purchased a new stake in Smurfit Westrock in the 3rd quarter worth approximately $13,656,000. Finally, AMF Tjanstepension AB purchased a new position in shares of Smurfit Westrock during the third quarter valued at approximately $8,519,000. Institutional investors 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.