Sylvamo (NYSE:SLVM) Stock Price Target Lowered at Bank of America

by · The Markets Daily

Sylvamo (NYSE:SLVM – Get Free Report) had its price target cut by equities researchers at Bank of America from $45.00 to $42.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 30.47% from the stock’s current price.

Several other analysts have also issued reports on the stock. Zacks Research upgraded shares of Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company started coverage on shares of Sylvamo in a research report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 price target on the stock. Wall Street Zen upgraded shares of Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Royal Bank Of Canada reduced their price objective on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Finally, Truist Financial decreased their price objective on shares of Sylvamo from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.75.

Read Our Latest Stock Analysis on Sylvamo

Sylvamo Trading Up 3.3%

Shares of Sylvamo stock opened at $32.19 on Wednesday. The company has a market capitalization of $1.28 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87. The stock has a fifty day simple moving average of $35.82 and a 200 day simple moving average of $38.48. Sylvamo has a 12-month low of $30.40 and a 12-month high of $56.80. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88.

Sylvamo (NYSE:SLVM – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.37 EPS. On average, sell-side analysts anticipate that Sylvamo will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH increased its position in shares of Sylvamo by 15.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock valued at $19,132,000 after purchasing an additional 69,195 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Sylvamo in the 2nd quarter worth about $1,299,000. SG Americas Securities LLC boosted its holdings in shares of Sylvamo by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock worth $10,231,000 after buying an additional 18,653 shares during the last quarter. Rokos Capital Management LLP bought a new position in Sylvamo during the first quarter valued at about $10,802,000. Finally, State Street Corp grew its position in Sylvamo by 5.2% during the second quarter. State Street Corp now owns 1,389,749 shares of the company’s stock valued at $52,533,000 after buying an additional 69,299 shares during the period. Institutional investors own 91.16% of the company’s stock.

About Sylvamo

(Get Free Report)

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.

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