Smurfit Westrock (NYSE:SW) Given New $55.00 Price Target at Truist Financial

Smurfit Westrock (NYSE:SW) had its price objective raised by Truist Financial from $54.00 to $55.00 in a research report sent to investors on Monday, Marketbeat reports. They currently have a buy rating on the stock.

SW has been the subject of a number of other reports. Jefferies Financial Group upgraded Smurfit Westrock from a “hold” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a report on Monday, June 16th. Barclays lowered their target price on Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Smurfit Westrock in a research note on Wednesday, October 8th. UBS Group assumed coverage on Smurfit Westrock in a research note on Monday, September 15th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Wells Fargo & Company set a $52.00 price objective on Smurfit Westrock and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $57.90.

Smurfit Westrock Trading Up 2.7%

Shares of SW stock opened at $41.56 on Monday. The company has a market cap of $21.70 billion, a P/E ratio of 62.97 and a beta of 1.09. The stock has a 50 day simple moving average of $44.03 and a two-hundred day simple moving average of $43.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. Smurfit Westrock has a fifty-two week low of $37.01 and a fifty-two week high of $56.99.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.88 billion. Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%.The company’s quarterly revenue was up 167.4% compared to the same quarter last year. Research analysts forecast that Smurfit Westrock will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, August 15th were given a dividend of $0.4308 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.72 annualized dividend and a dividend yield of 4.1%. Smurfit Westrock’s payout ratio is presently 260.61%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Czech National Bank boosted its position in shares of Smurfit Westrock by 6.7% during the second quarter. Czech National Bank now owns 121,218 shares of the company’s stock valued at $5,231,000 after buying an additional 7,657 shares during the last quarter. Centennial Wealth Advisory LLC purchased a new position in shares of Smurfit Westrock during the second quarter valued at approximately $481,000. QRG Capital Management Inc. boosted its position in shares of Smurfit Westrock by 106.3% during the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company’s stock valued at $528,000 after buying an additional 6,032 shares during the last quarter. Foresight Group Ltd Liability Partnership purchased a new position in shares of Smurfit Westrock during the first quarter valued at approximately $26,028,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Smurfit Westrock by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company’s stock valued at $2,610,000 after buying an additional 1,600 shares during the last quarter. 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.