Zacks Research Upgrades Sylvamo (NYSE:SLVM) to “Hold”

Sylvamo (NYSE:SLVM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other equities analysts have also issued reports on SLVM. Wells Fargo & Company assumed coverage on Sylvamo in a research report on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 target price on the stock. Truist Financial lowered their target price on Sylvamo from $49.00 to $40.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen raised shares of Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Bank of America restated a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sylvamo in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.50.

Sylvamo Stock Performance

NYSE SLVM opened at $32.19 on Monday. The firm has a market cap of $1.28 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.12 and a beta of 0.87. Sylvamo has a 52-week low of $30.40 and a 52-week high of $56.80. The business’s 50-day moving average price is $35.82 and its 200 day moving average price is $38.48. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. The firm had revenue of $806.00 million during the quarter, compared to analysts’ expectations of $811.25 million. During the same period in the previous year, the firm posted $0.37 earnings per share. Sylvamo’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts expect that Sylvamo will post 1.53 earnings per share for the current year.

Institutional Trading of Sylvamo

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in Sylvamo by 5.2% in the second quarter. State Street Corp now owns 1,389,749 shares of the company’s stock valued at $52,533,000 after acquiring an additional 69,299 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Sylvamo by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after purchasing an additional 72,177 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Sylvamo by 15.8% during 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 in the last quarter. Rokos Capital Management LLP acquired a new stake in Sylvamo in the 1st quarter valued at approximately $10,802,000. Finally, SG Americas Securities LLC boosted its position in Sylvamo by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock worth $10,231,000 after acquiring an additional 18,653 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Company Profile

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.