Sylvamo (NYSE:SLVM) Stock Gets Price Target Trim from Truist Financial

by · The Cerbat Gem

Sylvamo (NYSE:SLVM – Get Free Report) had its price target cut by analysts at Truist Financial from $49.00 to $40.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 28.02% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company began coverage on Sylvamo in a report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 price objective for the company. Zacks Research lowered Sylvamo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sylvamo in a report on Friday, August 7th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Bank of America restated a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.50.

Check Out Our Latest Stock Report on Sylvamo

Sylvamo Price Performance

SLVM traded down $1.41 on Monday, hitting $31.24. 141,868 shares of the company were exchanged, compared to its average volume of 333,332. Sylvamo has a fifty-two week low of $30.40 and a fifty-two week high of $56.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 1.47. The firm has a market capitalization of $1.24 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.17 and a beta of 0.87. The business’s fifty day moving average is $36.11 and its 200 day moving average is $38.60.

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

Hedge Funds Weigh In On Sylvamo

A number of large investors have recently bought and sold shares of the stock. Nykredit A S purchased a new stake in shares of Sylvamo during the 2nd quarter valued at $33,000. Farther Finance Advisors LLC raised its position in shares of Sylvamo by 68.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock worth $36,000 after buying an additional 446 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Sylvamo in the 2nd quarter worth $68,000. Versant Capital Management Inc boosted its holdings in Sylvamo by 378.3% in the second quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock valued at $100,000 after acquiring an additional 2,092 shares during the last quarter. Finally, Amundi acquired a new position in Sylvamo in the first quarter valued at $214,000. Hedge funds and other 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.

Recommended Stories