Truist Financial Initiates Coverage on Smurfit Westrock (NYSE:SW)

Truist Financial assumed coverage on shares of Smurfit Westrock (NYSE:SW) in a research report released on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $62.00 price objective on the stock.

A number of other equities analysts also recently weighed in on the stock. Citigroup increased their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Morgan Stanley lifted their target price on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Argus began coverage on Smurfit Westrock in a research note on Thursday, December 5th. They set a “buy” rating and a $62.00 price target for the company. Wells Fargo & Company cut their price objective on 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, Barclays boosted their target price on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Trading Down 0.2 %

Smurfit Westrock stock opened at $55.23 on Tuesday. The firm has a fifty day simple moving average of $53.75. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $56.99. The firm has a market capitalization of $28.73 billion, a price-to-earnings ratio of 306.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). Smurfit Westrock had a negative net margin of 0.12% and a positive return on equity of 5.98%. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same period in the prior year, the company earned $0.81 EPS. As a group, equities analysts predict that Smurfit Westrock will post 2.65 EPS for the current year.

Insider Buying and Selling

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares of the company’s stock, valued at $8,221,119.24. This represents a 14.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SW. Retirement Wealth Solutions LLC bought a new position in Smurfit Westrock during the 4th quarter valued at $25,000. Mather Group LLC. bought a new position in shares of Smurfit Westrock during the third quarter worth about $25,000. Versant Capital Management Inc bought a new position in shares of Smurfit Westrock during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in Smurfit Westrock in the third quarter valued at about $26,000. 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.