Smurfit Westrock’s (SW) Outperform Rating Reiterated at Royal Bank of Canada

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

A number of other analysts have also commented on SW. Citigroup initiated coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Wells Fargo & Company dropped their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research note on Monday, July 29th. Redburn Atlantic started coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Performance

NYSE:SW opened at $51.66 on Friday. The stock’s fifty day moving average price is $47.63. The firm has a market cap of $26.87 billion, a P/E ratio of 287.02 and a beta of 1.04. Smurfit Westrock has a 52-week low of $38.55 and a 52-week 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.

Smurfit Westrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid 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 2.34%. Smurfit Westrock’s payout ratio is 672.26%.

Hedge Funds Weigh In On Smurfit Westrock

Several institutional investors have recently modified their holdings of the business. Mather Group LLC. acquired a new stake in Smurfit Westrock during the 3rd quarter worth approximately $25,000. CVA Family Office LLC bought a new stake in Smurfit Westrock in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in Smurfit Westrock in the 3rd quarter worth $32,000. Waldron Private Wealth LLC bought a new position in Smurfit Westrock during the 3rd quarter worth about $35,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at about $42,000. 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.