Sylvamo (NYSE:SLVM) PT Raised to $71.00

Sylvamo (NYSE:SLVM) had its price objective hoisted by research analysts at Royal Bank of Canada from $63.00 to $71.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential downside of 4.51% from the company’s previous close.

Separately, Bank of America reaffirmed a “neutral” rating and set a $82.00 price target (up from $71.00) on shares of Sylvamo in a research note on Monday.

Sylvamo Stock Down 1.9 %

NYSE:SLVM traded down $1.43 on Monday, hitting $74.35. 160,538 shares of the company’s stock traded hands, compared to its average volume of 325,042. The company has a market cap of $3.06 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.33 and a beta of 1.07. Sylvamo has a 1 year low of $37.59 and a 1 year high of $77.32. The company has a current ratio of 1.72, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $69.84 and a 200-day moving average price of $63.47.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.34. The firm had revenue of $933.00 million for the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Equities analysts anticipate that Sylvamo will post 6.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SLVM. CWM LLC lifted its holdings in Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Sylvamo during the 1st quarter worth $45,000. Finally, Blue Trust Inc. raised its holdings in Sylvamo by 534.1% in the 2nd quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after acquiring an additional 689 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.