Royal Bank of Canada Upgrades Smurfit Westrock (NYSE:SW) to “Outperform”

Smurfit Westrock (NYSE:SW) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Thursday, Marketbeat Ratings reports. The firm currently has a $58.00 price target on the stock, up from their prior price target of $52.00. Royal Bank of Canada’s target price suggests a potential upside of 12.70% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company decreased their price objective 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and an average target price of $57.43.

Smurfit Westrock Price Performance

SW stock opened at $51.47 on Thursday. Smurfit Westrock has a 52-week low of $38.55 and a 52-week high of $52.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 2.18. The company’s 50-day moving average price is $46.53. The company has a market capitalization of $26.73 billion, a PE ratio of 285.93 and a beta of 1.04.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). Smurfit Westrock had a negative net margin of 0.12% and a positive return on equity of 5.98%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. Equities analysts expect that Smurfit Westrock will post 2.6 EPS for the current fiscal year.

Institutional Trading of Smurfit Westrock

Several hedge funds have recently modified their holdings of SW. AMF Tjanstepension AB acquired a new position in Smurfit Westrock during the 3rd quarter worth $8,519,000. Czech National Bank bought a new stake in shares of Smurfit Westrock during the third quarter worth $4,967,000. SG Americas Securities LLC acquired a new position in shares of Smurfit Westrock during the third quarter valued at $843,000. Park Avenue Securities LLC bought a new position in Smurfit Westrock in the third quarter valued at about $561,000. Finally, GAMMA Investing LLC acquired a new stake in Smurfit Westrock in the third quarter worth about $249,000. 83.38% of the stock is owned by institutional investors.

Smurfit Westrock Company Profile

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.