Analysts Set Sylvamo Corporation (NYSE:SLVM) Price Target at $46.67

Sylvamo Corporation (NYSE:SLVM) has earned an average rating of “Reduce” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.6667.

Several brokerages have issued reports on SLVM. Wall Street Zen raised Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Bank of America reiterated a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a research note on Tuesday, July 14th. Truist Financial reissued a “buy” rating and issued a $49.00 price objective (down from $51.00) on shares of Sylvamo in a report on Monday, August 10th. Finally, Royal Bank Of Canada cut their target price on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research report on Friday, July 17th.

Insiders Place Their Bets

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $41.70, for a total value of $51,291.00. Following the transaction, the director directly owned 14,475 shares in the company, valued at approximately $603,607.50. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Sylvamo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in Sylvamo by 605.9% in the 4th quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock worth $107,529,000 after purchasing an additional 1,916,829 shares during the period. Jain Global LLC bought a new stake in Sylvamo during the fourth quarter valued at about $39,072,000. William Blair Investment Management LLC bought a new stake in Sylvamo during the fourth quarter valued at about $33,777,000. Nomura Holdings Inc. increased its position in Sylvamo by 34.1% in the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock worth $95,073,000 after buying an additional 546,336 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Sylvamo in the second quarter worth about $15,030,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Price Performance

NYSE SLVM opened at $36.80 on Wednesday. The business’s fifty day moving average price is $38.54 and its 200-day moving average price is $41.36. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.47 and a quick ratio of 0.80. Sylvamo has a 1-year low of $35.53 and a 1-year high of $56.80.

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

About Sylvamo

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.