Smurfit Westrock (NYSE:SW) Now Covered by Analysts at Citigroup

Citigroup started coverage on shares of Smurfit Westrock (NYSE:SW) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $57.00 target price on the stock.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price for the company. Morgan Stanley began 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 reaffirmed a “sector perform” rating and set a $52.00 price objective on shares of Smurfit Westrock in a report on Wednesday, July 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock currently has an average rating of “Moderate Buy” and an average price target of $56.57.

Smurfit Westrock Price Performance

Shares of SW opened at $45.83 on Wednesday. The company’s 50 day moving average is $46.06. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $50.60. The stock has a market capitalization of $11.78 billion, a P/E ratio of 38.51 and a beta of 1.05.

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

Hedge Funds Weigh In On Smurfit Westrock

A number of hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $14,835,000. Adams Natural Resources Fund Inc. acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $2,041,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $174,000. MONECO Advisors LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $363,000. Finally, abrdn plc acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $2,708,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

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.