Smurfit Westrock (NYSE:SW) Shares Gap Down – Here’s What Happened

Smurfit Westrock Ltd (NYSE:SW) shares gapped down before the market opened on Tuesday . The stock had previously closed at $54.88, but opened at $53.40. Smurfit Westrock shares last traded at $54.12, with a volume of 360,514 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SW. Barclays increased their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. 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 for the company. Morgan Stanley increased their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Argus started 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Stock Down 1.7 %

The company has a market cap of $28.06 billion, a price-to-earnings ratio of 299.82 and a beta of 1.03. The company’s 50-day moving average price is $53.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.23). Smurfit Westrock had a negative net margin of 0.12% and a positive return on equity of 5.98%. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period in the previous year, the business posted $0.81 EPS. Sell-side analysts anticipate that Smurfit Westrock Ltd will post 2.65 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Saverio Mayer sold 25,000 shares of the business’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 completion of the sale, the insider now owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Smurfit Westrock

A number of institutional investors have recently modified their holdings of SW. State Street Corp acquired a new position in Smurfit Westrock in the 3rd quarter valued at $967,582,000. Geode Capital Management LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at $627,244,000. FMR LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at $431,653,000. Mizuho Securities USA LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at $386,712,000. Finally, Soros Fund Management LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at $340,848,000. 83.38% of the stock is owned by institutional investors and hedge funds.

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.