Smurfit Westrock (NYSE:SW) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Smurfit Westrock (NYSE:SW) in a research note issued to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $57.00 target price on the stock.

A number of other brokerages have also issued reports on SW. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 target price on shares of Smurfit Westrock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley assumed coverage on Smurfit Westrock in a research report on Friday, July 19th. They set an “overweight” rating and a $60.00 target price on the stock. Wells Fargo & Company dropped their target price on 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. Finally, Redburn Atlantic assumed coverage on Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and an average price target of $56.57.

Smurfit Westrock Stock Down 0.0 %

NYSE:SW opened at $45.84 on Wednesday. The firm has a 50-day moving average of $46.06. Smurfit Westrock has a 12 month low of $38.55 and a 12 month high of $50.60. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 38.52 and a beta of 1.05.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, missing the consensus estimate 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, research analysts predict that Smurfit Westrock will post 2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Smurfit Westrock

Hedge funds have recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new position in Smurfit Westrock in the third quarter valued at approximately $8,519,000. Czech National Bank acquired a new position in Smurfit Westrock in the third quarter valued at approximately $4,967,000. SG Americas Securities LLC acquired a new position in Smurfit Westrock in the third quarter valued at approximately $843,000. Park Avenue Securities LLC acquired a new position in Smurfit Westrock in the third quarter valued at approximately $561,000. Finally, GAMMA Investing LLC acquired a new position in Smurfit Westrock in the third quarter valued at approximately $249,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Company Profile

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.