Barclays Lowers Smurfit Westrock (NYSE:SW) Price Target to $63.00

Smurfit Westrock (NYSE:SW - Free Report) had its target price lowered by Barclays from $64.00 to $63.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

SW has been the subject of several other reports. Morgan Stanley decreased their price target on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Wells Fargo & Company decreased their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada dropped their price target on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and raised their price target for the stock from $44.00 to $55.00 in a report on Monday, June 16th. Finally, Truist Financial lowered their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Smurfit Westrock presently has an average rating of "Moderate Buy" and a consensus target price of $58.40.

Smurfit Westrock Stock Up 6.2%

Shares of SW traded up $2.69 during midday trading on Monday, hitting $45.84. The company had a trading volume of 1,952,573 shares, compared to its average volume of 4,527,531. The company has a quick ratio of 0.93, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. Smurfit Westrock has a 52 week low of $37.01 and a 52 week high of $56.99. The company's 50 day moving average price is $43.12 and its 200 day moving average price is $47.27. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 37.58 and a beta of 1.04.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Smurfit Westrock had a return on equity of 7.38% and a net margin of 1.98%. The firm had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.41 billion. The company's revenue was up 161.3% compared to the same quarter last year. On average, equities research analysts predict that Smurfit Westrock will post 3.25 EPS for the current year.

Smurfit Westrock Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, May 19th were issued a dividend of $0.4308 per share. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, May 16th. Smurfit Westrock's dividend payout ratio (DPR) is 140.98%.

Insider Buying and Selling

In other news, Director Irial Finan bought 15,180 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the completion of the transaction, the director directly owned 54,893 shares of the company's stock, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Smurfit Westrock

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Smurfit Westrock in the fourth quarter valued at $1,300,041,000. Nuveen LLC bought a new stake in Smurfit Westrock in the first quarter worth about $1,051,299,000. Nuveen Asset Management LLC raised its position in Smurfit Westrock by 51.6% in the fourth quarter. Nuveen Asset Management LLC now owns 20,720,312 shares of the company's stock worth $1,115,996,000 after acquiring an additional 7,050,781 shares in the last quarter. Boston Partners acquired a new stake in Smurfit Westrock in the 4th quarter valued at about $304,377,000. Finally, Victory Capital Management Inc. boosted its position in shares of Smurfit Westrock by 4,456.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,491,092 shares of the company's stock valued at $295,750,000 after purchasing an additional 5,370,587 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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.