Smurfit Westrock (NYSE:SW) Given New $64.00 Price Target at Morgan Stanley

Smurfit Westrock (NYSE:SW - Get Free Report) had its target price lowered by equities researchers at Morgan Stanley from $66.00 to $64.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 46.97% from the company's previous close.

Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. upped their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Argus initiated coverage on Smurfit Westrock in a research report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price target for the company. Citigroup boosted their price objective on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Truist Financial initiated coverage on shares of Smurfit Westrock in a report on Tuesday, January 21st. They set a "buy" rating and a $62.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.70.

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Smurfit Westrock Price Performance

Smurfit Westrock stock traded up $0.36 during midday trading on Tuesday, reaching $43.55. The company's stock had a trading volume of 770,406 shares, compared to its average volume of 4,589,208. The firm has a market capitalization of $22.67 billion, a PE ratio of 79.01 and a beta of 0.99. Smurfit Westrock has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The stock's 50 day simple moving average is $52.72 and its 200 day simple moving average is $50.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, equities research analysts forecast that Smurfit Westrock will post 3.25 earnings per share for the current year.

Insider Activity

In related news, insider Alvaro Henao sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $53.90, for a total value of $215,600.00. Following the sale, the insider now directly owns 44,361 shares of the company's stock, valued at approximately $2,391,057.90. This trade represents a 8.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken Bowles sold 24,225 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the transaction, the insider now directly owns 111,458 shares of the company's stock, valued at $6,136,877.48. This trade represents a 17.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.49% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SW. Janney Montgomery Scott LLC acquired a new stake in Smurfit Westrock during the third quarter worth about $1,605,000. Van ECK Associates Corp purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth about $279,000. Principal Financial Group Inc. acquired a new stake in Smurfit Westrock during the 3rd quarter worth approximately $29,716,000. Assetmark Inc. purchased a new position in Smurfit Westrock in the third quarter valued at approximately $59,000. Finally, Atria Investments Inc purchased a new position in Smurfit Westrock in the third quarter valued at approximately $362,000. 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.

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