Smurfit Westrock (NYSE:SW) Price Target Raised to $64.00

Smurfit Westrock (NYSE:SW) had its price target raised by Morgan Stanley from $60.00 to $64.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup assumed 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a research report on Monday, July 29th. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $52.00 to $58.00 in a research note on Thursday, October 31st. Redburn Atlantic initiated coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $51.66 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $26.87 billion, a price-to-earnings ratio of 287.02 and a beta of 1.04. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $54.32. The stock has a 50-day moving average of $47.63.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s payout ratio is 672.26%.

Hedge Funds Weigh In On Smurfit Westrock

Several hedge funds have recently bought and sold shares of SW. Private Management Group Inc. bought a new position in Smurfit Westrock in the 3rd quarter valued at $9,405,000. Catalytic Wealth RIA LLC purchased a new stake in shares of Smurfit Westrock in the third quarter worth $520,000. M&G PLC purchased a new stake in shares of Smurfit Westrock in the third quarter worth $9,253,000. Nisa Investment Advisors LLC bought a new stake in Smurfit Westrock during the third quarter valued at $542,000. Finally, Amalgamated Bank purchased a new position in Smurfit Westrock during the third quarter worth about $4,854,000. Hedge funds and other institutional investors 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.