Smurfit Westrock (NYSE:SW) Price Target Raised to $62.00 at Citigroup

Smurfit Westrock (NYSE:SW) had its target price upped by investment analysts at Citigroup from $61.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 16.21% from the stock’s current price.

A number of other equities analysts have also commented on SW. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday, November 15th. Morgan Stanley boosted their price target 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. Argus assumed 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. JPMorgan Chase & Co. upped their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company cut their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.56.

Smurfit Westrock Price Performance

NYSE SW traded up $1.05 on Monday, reaching $53.35. The company had a trading volume of 2,659,594 shares, compared to its average volume of 2,678,642. The firm has a market cap of $27.75 billion, a price-to-earnings ratio of 296.41 and a beta of 1.03. Smurfit Westrock has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The business has a 50 day moving average price of $53.19. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.

Insider Activity

In related news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the sale, the insider now directly owns 149,911 shares of the company’s stock, 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 SEC, which can be accessed through this link. Corporate 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 SW. Mather Group LLC. bought a new position in Smurfit Westrock during the third quarter valued at about $25,000. CVA Family Office LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $26,000. Versant Capital Management Inc purchased a new stake in shares of Smurfit Westrock during the 4th quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth approximately $32,000. Finally, Waldron Private Wealth LLC purchased a new position in Smurfit Westrock in the third quarter valued at approximately $35,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

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.