Sylvamo (NYSE:SLVM) Stock Price Target Raised at Royal Bank Of Canada

Sylvamo (NYSE:SLVM) had its price target lifted by investment analysts at Royal Bank Of Canada from $35.00 to $37.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective points to a potential downside of 6.80% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $47.00 target price (up from $40.00) on shares of Sylvamo in a research note on Monday. Wall Street Zen raised shares of Sylvamo from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Zacks Research raised shares of Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sylvamo in a report on Wednesday. Finally, Bank of America cut their price objective on shares of Sylvamo from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sylvamo currently has an average rating of “Hold” and an average price target of $43.25.

Sylvamo Stock Performance

NYSE SLVM opened at $39.70 on Monday. Sylvamo has a fifty-two week low of $30.40 and a fifty-two week high of $56.80. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -8.80, a price-to-earnings-growth ratio of 1.85 and a beta of 0.87. The business has a fifty day moving average of $34.01 and a 200-day moving average of $39.77. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 1.16.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, November 6th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.20. The business had revenue of $645.00 million for the quarter, compared to the consensus estimate of $817.79 million. Sylvamo had a positive return on equity of 8.36% and a negative net margin of 5.81%. The business’s revenue was down 23.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 earnings per share. As a group, analysts predict that Sylvamo will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sylvamo

Hedge funds have recently made changes to their positions in the business. Nykredit A S purchased a new stake in shares of Sylvamo in the second quarter valued at $33,000. Farther Finance Advisors LLC increased its stake in Sylvamo by 68.8% in the third quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock valued at $36,000 after purchasing an additional 446 shares during the last quarter. Signaturefd LLC lifted its position in Sylvamo by 54.9% during the third quarter. Signaturefd LLC now owns 1,380 shares of the company’s stock worth $45,000 after buying an additional 489 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Sylvamo during the second quarter worth about $68,000. Finally, Versant Capital Management Inc lifted its position in Sylvamo by 378.3% during the second quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock worth $100,000 after buying an additional 2,092 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Company Profile

Sylvamo Corporation is a global producer of uncoated paper products. The company manufactures papers used for printing, copying, writing, publishing, commercial applications, notebooks, envelopes and other everyday communication needs. Its portfolio includes branded and private-label products serving businesses, retailers, publishers, printers and consumers.

Sylvamo operates paper mills and related facilities in North America, Latin America and Europe, with products sold to customers in numerous markets worldwide.