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

Smurfit Westrock (NYSE:SW) had its price objective lifted by equities researchers at Citigroup from $61.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 16.21% from the company’s previous close.

A number of other brokerages have also recently issued reports on SW. Barclays boosted 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. Wells Fargo & Company decreased their target price on shares of 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. Morgan Stanley lifted their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Finally, Argus began coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.56.

Smurfit Westrock Stock Performance

Shares of NYSE SW traded up $1.05 during trading hours on Monday, reaching $53.35. 2,659,594 shares of the stock were exchanged, compared to its average volume of 2,678,642. The company has a market cap of $27.75 billion, a price-to-earnings ratio of 296.41 and a beta of 1.03. The company’s fifty day simple moving average is $53.19. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $56.99.

Insider Buying and Selling

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 stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares of the company’s stock, 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 the SEC website. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Smurfit Westrock

Several hedge funds and other institutional investors have recently made changes to their positions in SW. Private Management Group Inc. acquired a new stake in Smurfit Westrock in the third quarter valued at approximately $9,405,000. Intech Investment Management LLC bought a new position in shares of Smurfit Westrock in the 3rd quarter valued at $597,000. Moors & Cabot Inc. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter valued at $520,000. Citigroup Inc. bought a new stake in Smurfit Westrock during the 3rd quarter worth $77,207,000. Finally, Catalytic Wealth RIA LLC acquired a new position in Smurfit Westrock in the 3rd quarter worth about $520,000. 83.38% of the stock is owned by 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.