Smurfit Westrock (NYSE:SW) Price Target Raised to $69.00 at JPMorgan Chase & Co.

Smurfit Westrock (NYSE:SW) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $65.00 to $69.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 26.21% from the stock’s previous close.

Several other research analysts also recently weighed in on SW. Citigroup started coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price for the company. 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 objective for the company. Morgan Stanley increased their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a report on Friday, November 15th. Finally, Wells Fargo & Company dropped their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.57.

Smurfit Westrock Price Performance

NYSE:SW traded down $0.09 during trading hours on Friday, reaching $54.67. The company had a trading volume of 679,648 shares, compared to its average volume of 5,118,184. Smurfit Westrock has a 1-year low of $38.55 and a 1-year high of $56.99. The company has a market capitalization of $28.44 billion, a price-to-earnings ratio of 303.85 and a beta of 1.04. The stock has a 50 day moving average price of $49.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SW. Franklin Resources Inc. purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $198,258,000. Synovus Financial Corp acquired a new position in Smurfit Westrock during the third quarter worth $858,000. Tidal Investments LLC acquired a new position in Smurfit Westrock during the third quarter worth $1,681,000. Wilmington Savings Fund Society FSB acquired a new position in Smurfit Westrock during the third quarter worth $134,000. Finally, McIlrath & Eck LLC acquired a new position in Smurfit Westrock during the third quarter worth $100,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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.