Fibria Celulose SA (FBR) Stock Price Up 7%
Fibria Celulose SA (NYSE:FBR) shares rose 7% during trading on Tuesday . The stock traded as high as $6.86 and last traded at $6.76, with a volume of 2,471,203 shares trading hands. The stock had previously closed at $6.32.
FBR has been the subject of several recent research reports. Bank of America Corp. lowered shares of Fibria Celulose SA from a “buy” rating to a “neutral” rating in a research note on Thursday, July 21st. Morgan Stanley lowered shares of Fibria Celulose SA from an “overweight” rating to an “equal weight” rating and set a $6.90 price objective for the company. in a research note on Tuesday, July 26th. Zacks Investment Research raised shares of Fibria Celulose SA from a “hold” rating to a “strong-buy” rating and set a $7.25 price objective for the company in a research note on Thursday, July 28th. Finally, FBR & Co cut shares of Fibria Celulose SA from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.49.
The stock has a market cap of $3.70 billion and a PE ratio of 5.85. The firm’s 50 day moving average is $6.36 and its 200 day moving average is $8.21.
A hedge fund recently raised its stake in Fibria Celulose SA stock. Morgan Stanley increased its position in shares of Fibria Celulose SA (NYSE:FBR) by 1,011.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.
Fibria Celulose SA (Fibria) is a Brazil-based 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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