Smurfit Westrock (NYSE:SW) Price Target Raised to $62.00

Smurfit Westrock (NYSE:SW - Free Report) had its price target hoisted by Citigroup from $61.00 to $62.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. Morgan Stanley increased their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Royal Bank of Canada restated an "outperform" rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Wells Fargo & Company dropped their price target 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, Barclays boosted their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Smurfit Westrock presently has a consensus rating of "Moderate Buy" and an average price target of $60.56.

Smurfit Westrock Trading Up 2.0 %

SW stock traded up $1.05 during mid-day trading on Monday, hitting $53.35. 2,760,381 shares of the company were exchanged, compared to its average volume of 2,915,194. The stock's fifty day moving average is $53.19. The firm has a market cap of $27.75 billion, a P/E ratio of 296.41 and a beta of 1.03. Smurfit Westrock has a twelve month low of $38.55 and a twelve month high of $56.99. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 15th were given a $0.3025 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.27%. Smurfit Westrock's dividend payout ratio is presently 672.22%.

Insiders Place Their Bets

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the sale, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Smurfit Westrock

A number of hedge funds have recently modified their holdings of SW. Mather Group LLC. purchased a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at $26,000. Versant Capital Management Inc purchased a new stake in shares of Smurfit Westrock in the fourth quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Smurfit Westrock in the third quarter worth $32,000. Finally, Waldron Private Wealth LLC purchased a new position in shares of Smurfit Westrock during the third quarter valued at $35,000. 83.38% of the stock is currently 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.