Brokerages Set Smurfit Westrock Ltd (NYSE:SW) Price Target at $60.70

Shares of Smurfit Westrock Ltd (NYSE:SW) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.70.

A number of research analysts have commented on the stock. Truist Financial began coverage on shares of Smurfit Westrock in a research report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price on the stock. Argus initiated coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Barclays raised their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th.

Insider Activity

In related news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 149,911 shares in the company, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Smurfit Westrock

Several institutional investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new stake in shares of Smurfit Westrock in the third quarter worth $25,000. Retirement Wealth Solutions LLC purchased a new stake in Smurfit Westrock during the 4th quarter worth $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $26,000. Versant Capital Management Inc purchased a new position in Smurfit Westrock in the fourth quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Price Performance

Shares of SW stock opened at $53.51 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The company has a market capitalization of $27.85 billion, a PE ratio of 297.28 and a beta of 1.02. The firm’s 50-day moving average is $53.67 and its two-hundred day moving average is $49.52. Smurfit Westrock has a 12 month low of $38.55 and a 12 month high of $56.99.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be given a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.22%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s payout ratio is presently 672.26%.

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.