Suzano (NYSE:SUZ) Stock Falls 1.3% – Here’s Why

Suzano S.A. Sponsored ADR (NYSE:SUZ)’s stock price dropped 1.3% during mid-day trading on Monday. The stock traded as low as $8.53 and last traded at $8.5740. 2,040,188 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 2,699,467 shares. The stock had previously closed at $8.69.

Analyst Ratings Changes

A number of research firms recently commented on SUZ. Weiss Ratings downgraded Suzano from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Bank of America raised Suzano from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Monday, August 24th. Finally, Zacks Research lowered shares of Suzano from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.20.

Suzano Price Performance

The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.75 and a current ratio of 3.38. The company has a 50-day moving average of $8.71 and a 200-day moving average of $8.74. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 0.13 and a beta of 0.55.

Suzano (NYSE:SUZ) last announced its earnings results on Tuesday, June 30th. The company reported $0.28 EPS for the quarter. Suzano had a net margin of 17.20% and a return on equity of 14.92%. The firm had revenue of $2.24 billion for the quarter. As a group, research analysts anticipate that Suzano S.A. Sponsored ADR will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Suzano

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its holdings in Suzano by 1.9% during the 2nd quarter. Tidal Investments LLC now owns 74,484 shares of the company’s stock worth $578,000 after purchasing an additional 1,386 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Suzano by 10.1% in the second quarter. Engineers Gate Manager LP now owns 53,200 shares of the company’s stock valued at $413,000 after purchasing an additional 4,868 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Suzano by 32.5% in the second quarter. Squarepoint Ops LLC now owns 14,519 shares of the company’s stock valued at $113,000 after purchasing an additional 3,559 shares in the last quarter. Nykredit A S acquired a new position in shares of Suzano during the second quarter worth about $229,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Suzano during the second quarter worth about $99,000. 2.55% of the stock is currently owned by institutional investors and hedge funds.

Suzano Company Profile

Suzano SA is a Brazilian forestry and industrial company focused on producing eucalyptus-based products. Its primary business is the manufacture and sale of hardwood kraft pulp, which is used by paper, tissue and packaging manufacturers around the world. The company also produces paper products, including printing and writing paper, coated paper and paperboard, as well as tissue products and other specialty materials.

Founded in 1924, Suzano operates an integrated forestry and manufacturing platform, including eucalyptus plantations, research and development activities, logistics operations and industrial facilities.