Zacks Research Upgrades Sylvamo (NYSE:SLVM) to “Hold”

Sylvamo (NYSE:SLVM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research analysts have also recently weighed in on the company. Royal Bank Of Canada cut their price objective on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Bank of America reaffirmed a “neutral” rating and set a $45.00 target price on shares of Sylvamo in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Wells Fargo & Company started coverage on shares of Sylvamo in a report on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 price target on the stock. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.50.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $32.19 on Monday. Sylvamo has a twelve month low of $30.40 and a twelve month high of $56.80. The stock’s 50 day moving average price is $35.82 and its 200-day moving average price is $38.48. The company has a market capitalization of $1.28 billion, a PE ratio of 17.12, a PEG ratio of 1.12 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88.

Sylvamo (NYSE:SLVM) last released its earnings results on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $806.00 million during the quarter, compared to analyst estimates of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities analysts anticipate that Sylvamo will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Sylvamo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC increased its stake in shares of Sylvamo by 22.2% in the third quarter. Steel Grove Capital Advisors LLC now owns 49,244 shares of the company’s stock worth $1,609,000 after purchasing an additional 8,931 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Sylvamo by 68.8% in the third quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock valued at $36,000 after purchasing an additional 446 shares during the period. State Street Corp lifted its stake in shares of Sylvamo by 5.2% during the 2nd quarter. State Street Corp now owns 1,389,749 shares of the company’s stock valued at $52,533,000 after buying an additional 69,299 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Sylvamo during the 2nd quarter valued at approximately $224,000. Finally, Tidal Investments LLC purchased a new stake in shares of Sylvamo during the 2nd quarter valued at approximately $1,299,000. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Company Profile

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.