Wells Fargo & Company Trims Smurfit Westrock (NYSE:SW) Target Price to $50.00

Smurfit Westrock (NYSE:SW) had its target price dropped by investment analysts at Wells Fargo & Company from $53.00 to $50.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.87% from the company’s current price.

Several other research firms have also recently weighed in on SW. JPMorgan Chase & Co. lowered their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley started coverage on Smurfit Westrock in a research note on Friday, July 19th. They issued an “overweight” rating and a $60.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research note on Wednesday, July 31st. Redburn Atlantic began coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Smurfit Westrock Stock Down 0.9 %

Shares of Smurfit Westrock stock traded down $0.41 during midday trading on Monday, hitting $46.35. The company had a trading volume of 2,362,361 shares, compared to its average volume of 5,878,104. The firm has a market cap of $11.91 billion, a PE ratio of 38.95 and a beta of 1.05. The firm has a 50 day moving average price of $45.03. Smurfit Westrock has a 52-week low of $38.55 and a 52-week high of $50.60.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate 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 expect that Smurfit Westrock will post 2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SW. AMF Tjanstepension AB bought a new stake in Smurfit Westrock in the third quarter worth about $8,519,000. Czech National Bank bought a new stake in Smurfit Westrock in the third quarter worth about $4,967,000. SG Americas Securities LLC bought a new stake in Smurfit Westrock in the third quarter worth about $843,000. Park Avenue Securities LLC bought a new stake in Smurfit Westrock in the third quarter worth about $561,000. Finally, GAMMA Investing LLC bought a new stake in Smurfit Westrock in the third quarter worth about $249,000. 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.