Argus Begins Coverage on Smurfit Westrock (NYSE:SW)

Argus assumed coverage on shares of Smurfit Westrock (NYSE:SW) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $62.00 price target on the stock. Argus’ target price indicates a potential upside of 13.55% from the company’s current price.

A number of other analysts also recently weighed in on SW. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Morgan Stanley boosted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Citigroup started coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 target price on the stock. Wells Fargo & Company decreased their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Finally, Redburn Atlantic started coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Smurfit Westrock Stock Down 0.3 %

Shares of NYSE SW opened at $54.60 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. Smurfit Westrock has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The company’s 50 day simple moving average is $50.13. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 303.35 and a beta of 1.04.

Insider Buying and Selling

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction 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. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Smurfit Westrock

Several large investors have recently made changes to their positions in the company. Retirement Systems of Alabama acquired a new position in Smurfit Westrock during the 3rd quarter worth $36,861,000. Franklin Resources Inc. acquired a new stake in Smurfit Westrock in the third quarter worth about $198,258,000. Synovus Financial Corp bought a new position in Smurfit Westrock in the 3rd quarter valued at about $858,000. Tidal Investments LLC acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $1,681,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Smurfit Westrock during the 3rd quarter worth about $134,000. 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.