Shares of Fibria Celulose SA (NYSE:FBR) dropped 2.2% during trading on Wednesday . The company traded as low as $6.22 and last traded at $6.29, with a volume of 1,096,452 shares traded. The stock had previously closed at $6.43.

FBR has been the subject of a number of recent research reports. Scotiabank upgraded Fibria Celulose SA from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, April 1st. Zacks Investment Research upgraded Fibria Celulose SA from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Friday, April 1st. FBR & Co cut Fibria Celulose SA from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Bank of America Corp. cut Fibria Celulose SA from a “buy” rating to a “neutral” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Fibria Celulose SA currently has an average rating of “Hold” and an average target price of $22.06.

The firm has a market capitalization of $3.45 billion and a P/E ratio of 5.97. The company’s 50 day moving average is $7.43 and its 200-day moving average is $9.02.

An institutional investor recently raised its position in Fibria Celulose SA stock. Bank of Montreal Can boosted its stake in shares of Fibria Celulose SA (NYSE:FBR) by 8,417.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,816 shares of the company’s stock after buying an additional 90,738 shares during the period. Bank of Montreal Can’s holdings in Fibria Celulose SA were worth $1,165,000 at the end of the most recent reporting period.

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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