Fibria Celulose SA (FBR) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Fibria Celulose SA (NYSE:FBR) from a hold rating to a buy rating in a research note released on Monday. They currently have $8.00 target price on the stock.
According to Zacks, “Fibria Celulose S.A., is a Brazil-based paper product company which produces bleached eucalyptus pulp exclusively from renewable plantations, which is mainly targeted to the main consumer markets and is also used for their own manufacturing of paper products. The Company’s paper products can be divided into three major categories: uncoated and coated printing and writing papers; carbonless papers and thermal papers. Coated printing and writing paper is used for promotional materials, folders, internal sheets and cover of magazines, books, tabloids, inserts and mailing. Uncoated printing and writing paper is used in reels, sheets and cut-size designed for maximum performance in photocopying machines and laser and inkjet printers, and alkaline offset paper. Carbonless paper is used in producing multi-copy forms for credit card receipts, invoices and other applications. Thermal paper is used in fax machines, supermarket receipts, bar code labels, toll tickets and receipts for automated teller machines. “
FBR has been the topic of several other research reports. Morgan Stanley downgraded Fibria Celulose SA from an overweight rating to an equal weight rating and set a $6.90 price objective on the stock. in a report on Tuesday, July 26th. Bank of America Corp. downgraded Fibria Celulose SA from a buy rating to a neutral rating in a report on Thursday, July 21st. Finally, FBR & Co downgraded Fibria Celulose SA from an outperform rating to a market perform rating in a report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $20.57.
Fibria Celulose SA (NYSE:FBR) opened at 7.18 on Monday. The firm’s 50-day moving average is $6.86 and its 200-day moving average is $7.67. Fibria Celulose SA has a 12 month low of $5.79 and a 12 month high of $14.94. The firm has a market capitalization of $3.98 billion, a PE ratio of 6.38 and a beta of 0.70.
Large investors have recently made changes to their positions in the stock. Pacad Investment Ltd. purchased a new stake in shares of Fibria Celulose SA during the first quarter valued at approximately $718,000. Bogle Investment Management L P DE purchased a new stake in shares of Fibria Celulose SA during the first quarter valued at approximately $1,428,000. Renaissance Technologies LLC boosted its stake in shares of Fibria Celulose SA by 105.5% in the first quarter. Renaissance Technologies LLC now owns 3,527,428 shares of the company’s stock valued at $29,913,000 after buying an additional 1,810,628 shares during the last quarter. HBK Investments L P boosted its stake in shares of Fibria Celulose SA by 66.6% in the first quarter. HBK Investments L P now owns 81,200 shares of the company’s stock valued at $689,000 after buying an additional 32,451 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Fibria Celulose SA by 208.5% in the first quarter. BlackRock Inc. now owns 691,351 shares of the company’s stock valued at $5,863,000 after buying an additional 467,263 shares during the last quarter. 8.09% of the stock is owned by institutional investors and hedge funds.
About Fibria Celulose SA
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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