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

Royal Bank of Canada reiterated their outperform rating on shares of Smurfit Westrock (NYSE:SW) in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a $58.00 price objective on the stock.

A number of other research firms also recently weighed in on SW. Citigroup initiated coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Morgan Stanley upped their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday. Redburn Atlantic started coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective for the company. Wells Fargo & Company dropped 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 report on Monday, October 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Price Performance

Smurfit Westrock stock opened at $51.66 on Friday. 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 business’s 50-day simple moving average 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 one year low of $38.55 and a one year high of $54.32.

Smurfit Westrock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 dividend payout ratio (DPR) is currently 672.26%.

Institutional Investors Weigh In On Smurfit Westrock

A number of institutional investors have recently made changes to their positions in the company. Private Management Group Inc. bought a new position in shares of Smurfit Westrock during the third quarter worth approximately $9,405,000. Catalytic Wealth RIA LLC acquired a new stake in shares of Smurfit Westrock during the third quarter worth $520,000. M&G PLC bought a new stake in shares of Smurfit Westrock in the third quarter valued at about $9,253,000. Nisa Investment Advisors LLC acquired a new position in shares of Smurfit Westrock in the third quarter valued at about $542,000. Finally, Amalgamated Bank bought a new position in Smurfit Westrock during the third quarter worth about $4,854,000. 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.