Smurfit Westrock (NYSE:SW) Receives New Coverage from Analysts at Citigroup

Equities researchers at Citigroup initiated coverage on shares of Smurfit Westrock (NYSE:SW) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $57.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 27.97% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Morgan Stanley initiated coverage on shares of Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price objective on the stock. Redburn Atlantic began coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Wednesday, July 31st. Wells Fargo & Company cut their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Finally, Jefferies Financial Group restated a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $44.54 on Wednesday. The firm has a market cap of $11.45 billion, a P/E ratio of 37.43 and a beta of 1.05. The business’s 50 day moving average price is $45.83. Smurfit Westrock has a 1 year low of $38.55 and a 1 year high of $50.60.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). Smurfit Westrock had a return on equity of 7.13% and a net margin of 1.36%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. As a group, equities research analysts forecast that Smurfit Westrock will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of Smurfit Westrock

Several hedge funds have recently modified their holdings of SW. Clarius Group LLC acquired a new stake in Smurfit Westrock in the third quarter valued at approximately $218,000. Diversified Trust Co purchased a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $670,000. Czech National Bank acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at $4,967,000. ORG Wealth Partners LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $32,000. Finally, SWS Partners acquired a new position in shares of Smurfit Westrock during the third quarter worth $3,199,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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.