Citigroup Initiates Coverage on Smurfit Westrock (NYSE:SW)

Investment analysts at Citigroup started coverage on shares of Smurfit Westrock (NYSE:SW) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $57.00 price target on the stock. Citigroup’s price target suggests a potential upside of 24.29% from the company’s previous close.

Several other research firms have also commented on SW. Royal Bank of Canada reissued a “sector perform” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target 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. Wells Fargo & Company reduced their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Jefferies Financial Group reissued a “hold” rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, Morgan Stanley started coverage on Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price target for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Smurfit Westrock Trading Down 1.7 %

SW opened at $45.86 on Wednesday. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $50.60. The stock has a market cap of $23.82 billion, a PE ratio of 50.40 and a beta of 1.05. The company has a 50 day moving average price of $46.00.

Smurfit Westrock (NYSE:SW) last announced 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). The firm 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%. Sell-side analysts predict that Smurfit Westrock will post 2.6 EPS for the current fiscal year.

Institutional Trading of Smurfit Westrock

Institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. bought a new stake in shares of Smurfit Westrock in the third quarter worth approximately $25,000. CVA Family Office LLC purchased a new stake in Smurfit Westrock in the third quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new stake in Smurfit Westrock in the 3rd quarter worth approximately $32,000. Waldron Private Wealth LLC purchased a new stake in Smurfit Westrock during the 3rd quarter valued at $35,000. Finally, Cromwell Holdings LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at $42,000. Institutional investors 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.