Smurfit Westrock (NYSE:SW) Earns Outperform Rating from Royal Bank of Canada

Smurfit Westrock (NYSE:SW)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They presently have a $58.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 12.27% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Redburn Atlantic started coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. Wells Fargo & Company dropped their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. Finally, Morgan Stanley boosted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Smurfit Westrock Stock Performance

Shares of NYSE SW opened at $51.66 on Friday. The business has a 50 day moving average price of $47.63. Smurfit Westrock has a 52-week low of $38.55 and a 52-week high of $54.32. 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 P/E ratio of 287.02 and a beta of 1.04.

Institutional Trading of Smurfit Westrock

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp bought a new stake in Smurfit Westrock during the third quarter worth approximately $967,582,000. Geode Capital Management LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $627,244,000. FMR LLC purchased a new stake in Smurfit Westrock during the 3rd quarter valued at $431,653,000. Mizuho Securities USA LLC purchased a new position in Smurfit Westrock during the third quarter worth $386,712,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Smurfit Westrock in the third quarter valued at $340,848,000. 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.