Fibria Celulose SA (FBR) Trading Down 2.3%
Fibria Celulose SA (NYSE:FBR)’s share price dropped 2.3% during mid-day trading on Thursday . The stock traded as low as $6.47 and last traded at $6.50, with a volume of 587,837 shares trading hands. The stock had previously closed at $6.65.
FBR has been the subject of several analyst reports. Zacks Investment Research raised shares of Fibria Celulose SA from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Friday, April 1st. Scotiabank raised shares of Fibria Celulose SA from a “sector perform” rating to a “sector outperform” rating in a report on Friday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.06.
The firm’s 50 day moving average is $7.86 and its 200-day moving average is $9.25. The company has a market capitalization of $3.57 billion and a PE ratio of 6.37.
A hedge fund recently raised its stake in Fibria Celulose SA stock. Morgan Stanley raised its stake in shares of Fibria Celulose SA (NYSE:FBR) by 1,011.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,516,711 shares of the company’s stock after buying an additional 1,380,307 shares during the period. Morgan Stanley owned approximately 0.27% of Fibria Celulose SA worth $19,247,000 as of its most recent SEC filing.
Fibria Celulose SA (Fibria) is a pulp and paper producer. The Company’s activities are focused on the renewable and sustainable forests and the manufacture and sale of bleached eucalyptus kraft pulp. Forests in formation are located in the states of Sao Paulo, Mato Grosso do Sul, Minas Gerais, Rio de Janeiro, Espirito Santo, Bahia and Rio Grande do Sul.
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