Smurfit Westrock (NYSE:SW) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Smurfit Westrock (NYSE:SW) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $58.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Citigroup initiated coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 target price on the stock. Morgan Stanley lifted their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Jefferies Financial Group restated a “hold” rating and set a $52.00 target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Price Performance

Shares of SW opened at $53.45 on Friday. Smurfit Westrock has a 1-year low of $38.55 and a 1-year high of $54.32. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock’s 50 day simple moving average is $47.63. The stock has a market cap of $27.80 billion, a PE ratio of 290.35 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.26%. Smurfit Westrock’s payout ratio is 672.26%.

Institutional Investors Weigh In On Smurfit Westrock

A number of institutional investors have recently added to or reduced their stakes in SW. Mather Group LLC. purchased a new stake in Smurfit Westrock during the third quarter worth approximately $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC purchased a new position in Smurfit Westrock in the third quarter valued at about $32,000. Waldron Private Wealth LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth about $35,000. Finally, Cromwell Holdings LLC purchased a new stake in shares of Smurfit Westrock in the third quarter worth about $42,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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.