Smurfit Westrock (NYSE:SW) Coverage Initiated at Argus

Research analysts at Argus initiated coverage on shares of Smurfit Westrock (NYSE:SW) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $62.00 price target on the stock. Argus’ target price would suggest a potential upside of 13.55% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on SW. JPMorgan Chase & Co. upped their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Citigroup began coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price for the company. Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price for the company. Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.00.

Smurfit Westrock Stock Down 0.3 %

Shares of Smurfit Westrock stock opened at $54.60 on Thursday. The company has a fifty day moving average price of $50.13. Smurfit Westrock has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of 303.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48.

Insiders Place Their Bets

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

Institutional Trading of Smurfit Westrock

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

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.