Wells Fargo & Company Upgrades Sylvamo (NYSE:SLVM) to “Strong-Buy”

Sylvamo (NYSE:SLVM) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

SLVM has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sylvamo in a report on Friday, August 7th. Bank of America restated a “neutral” rating and set a $45.00 price target on shares of Sylvamo in a report on Tuesday, July 14th. Zacks Research downgraded shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Truist Financial reiterated a “buy” rating and issued a $49.00 price objective (down from $51.00) on shares of Sylvamo in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sylvamo has an average rating of “Hold” and a consensus price target of $46.75.

Sylvamo Stock Up 3.1%

Shares of NYSE SLVM opened at $35.97 on Wednesday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.25 and a beta of 0.86. The company has a 50-day moving average price of $37.38 and a 200-day moving average price of $39.60. Sylvamo has a 1 year low of $34.25 and a 1 year high of $56.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.47 and a quick ratio of 0.80.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Sylvamo had a net margin of 2.31% and a return on equity of 8.36%. The company had revenue of $806.00 million for the quarter, compared to analyst estimates of $811.25 million. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Sylvamo will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Sylvamo

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Sylvamo by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock worth $57,547,000 after acquiring an additional 72,177 shares during the period. William Blair Investment Management LLC bought a new position in Sylvamo during the fourth quarter valued at $33,777,000. Royce & Associates LP increased its position in Sylvamo by 8.6% in the fourth quarter. Royce & Associates LP now owns 464,401 shares of the company’s stock worth $22,361,000 after buying an additional 36,685 shares during the last quarter. Allianz Asset Management GmbH increased its position in Sylvamo by 15.8% in the second quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock worth $19,132,000 after buying an additional 69,195 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Sylvamo in the fourth quarter valued at $13,438,000. Institutional investors own 91.16% of the company’s stock.

Sylvamo Company Profile

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, education, office applications, books, envelopes and other everyday communications. Its portfolio includes consumer and business paper brands such as Hammermill, along with products sold under regional and private-label brands.

Sylvamo serves customers through operations and distribution networks in North America, Latin America and Europe. Its products are sold to merchants, retailers, businesses, publishers, printers and other commercial customers.