DUBLIN—Jairo Lorenzatto, President and Chief Executive Officer of LATAM at Smurfit Westrock plc (NASDAQ:SW), recently sold 491 shares of the company. According to a filing with the Securities and Exchange Commission, the shares were sold at an average price of $48.44 each, totaling approximately $23,784. The stock has since climbed to $52.67, reflecting part of its impressive 27% gain year-to-date.
Following this transaction, Lorenzatto retains ownership of 19,033 shares in the company. It's important to note that this figure includes 17,911 restricted stock units that are subject to time-vesting, as indicated in the filing. The retained shares represent a small portion of the company's $26.5 billion market capitalization.
Smurfit Westrock plc, a prominent player in the paperboard containers and boxes industry, continues to be a focus for investors tracking insider transactions. The company maintains a "GOOD" financial health score according to InvestingPro, which also indicates the stock is currently trading at a premium to its Fair Value.
In other recent news, Smurfit Westrock has experienced significant developments. The company reported a net loss in its third quarter, primarily due to transaction-related expenses and purchase accounting adjustments of approximately $500 million. Despite this, Smurfit Westrock's revenue increased to $7.67 billion, up from $2.92 billion a year ago, although this fell short of the expected $8.13 billion.
JPMorgan (NYSE:JPM) has reiterated its Overweight rating on Smurfit Westrock, maintaining a $65.00 price target for the company's stock. The firm's confidence in the stock is based on the potential for structural improvements within the WestRock (NYSE:WRK) legacy business to unlock significant value.
RBC (TSX:RY) Capital Markets has also upgraded Smurfit Westrock's stock from Sector Perform to Outperform, raising the price target from $52 to $58. This follows a series of positive developments within the company, including a satisfactory pace of execution on integration and a management statement indicating potential to exceed initial synergy targets by over $400 million.
Lastly, Smurfit Westrock's adjusted EBITDA, a key profitability metric, was reported at $1.27 billion, with a margin of 16.5%. The company anticipates a combined adjusted EBITDA of approximately $4.7 billion for the full year 2024. These are the recent developments for Smurfit Westrock as outlined by both JPMorgan and RBC Capital Markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.