Smurfit Westrock (NYSE:SW) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Smurfit Westrock (NYSE:SW) from a sector perform rating to an outperform rating in a report released on Thursday morning, Marketbeat Ratings reports. They currently have $58.00 price objective on the stock, up from their previous price objective of $52.00.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley started coverage on Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price objective for the company. Citigroup assumed coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $51.46 on Thursday. Smurfit Westrock has a 12 month low of $38.55 and a 12 month high of $52.76. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 285.89 and a beta of 1.04. 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 stock’s fifty day moving average is $46.53.

Smurfit Westrock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.35%. Smurfit Westrock’s dividend payout ratio (DPR) is 672.22%.

Institutional Investors Weigh In On Smurfit Westrock

A number of hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $25,000. CVA Family Office LLC purchased a new stake in Smurfit Westrock during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in Smurfit Westrock during the third quarter worth about $32,000. Waldron Private Wealth LLC purchased a new position in Smurfit Westrock in the third quarter valued at about $35,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds 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.