Wells Fargo & Company Issues Positive Forecast for Smurfit Westrock (NYSE:SW) Stock Price

Smurfit Westrock (NYSE:SW - Get Free Report) had its target price increased by Wells Fargo & Company from $43.00 to $45.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 6.34% from the company's current price.

SW has been the subject of a number of other research reports. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $55.00 in a research report on Monday, June 16th. Barclays lowered their price objective on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Morgan Stanley raised their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday. Royal Bank Of Canada lowered their price target on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Truist Financial lowered their price target on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.50.

Smurfit Westrock Stock Up 1.7%

Shares of NYSE:SW traded up $0.81 on Thursday, reaching $48.05. The company had a trading volume of 3,103,772 shares, compared to its average volume of 4,205,527. Smurfit Westrock has a 52-week low of $37.01 and a 52-week high of $56.99. The firm's 50 day simple moving average is $43.83 and its 200-day simple moving average is $47.07. The firm has a market capitalization of $25.08 billion, a PE ratio of 39.38 and a beta of 1.02. The company has a current ratio of 1.43, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

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

Insider Activity

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

Institutional Investors Weigh In On Smurfit Westrock

Large investors have recently bought and sold shares of the company. NBC Securities Inc. increased its stake in Smurfit Westrock by 127,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock worth $57,000 after buying an additional 1,276 shares in the last quarter. Geode Capital Management LLC increased its stake in Smurfit Westrock by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock worth $769,977,000 after buying an additional 1,594,939 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Smurfit Westrock by 45.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,151 shares of the company's stock valued at $708,000 after purchasing an additional 4,115 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Smurfit Westrock by 1.7% in the fourth quarter. Ameriprise Financial Inc. now owns 9,003,480 shares of the company's stock valued at $484,927,000 after purchasing an additional 149,210 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Smurfit Westrock by 106.3% in the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock valued at $528,000 after purchasing an additional 6,032 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

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.