Smurfit Westrock (NYSE:SW) Rating Increased to Outperform at Royal Bank of Canada

Smurfit Westrock (NYSE:SW) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, FinViz reports. The brokerage presently has a $58.00 target price on the stock, up from their prior target price of $52.00. Royal Bank of Canada’s price objective points to a potential upside of 15.86% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company reduced 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 note on Monday, October 7th. Citigroup began coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target on the stock. Redburn Atlantic began coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Morgan Stanley began coverage on shares of Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Smurfit Westrock Trading Up 12.0 %

Shares of SW opened at $50.06 on Thursday. Smurfit Westrock has a twelve month low of $38.55 and a twelve month high of $50.89. The stock has a market capitalization of $26.00 billion, a P/E ratio of 55.01 and a beta of 1.05. The company has a fifty day moving average price of $46.25.

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 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $7.91 billion. As a group, sell-side analysts forecast that Smurfit Westrock will post 2.6 EPS for the current year.

Institutional Trading of Smurfit Westrock

A number of institutional investors have recently modified their holdings of SW. AMF Tjanstepension AB purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $8,519,000. Czech National Bank purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $4,967,000. SG Americas Securities LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $843,000. Park Avenue Securities LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $561,000. Finally, GAMMA Investing LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $249,000. 83.38% of the stock is currently owned by 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.