Bank of America Boosts Sylvamo (NYSE:SLVM) Price Target to $88.00

Sylvamo (NYSE:SLVM) had its price objective hoisted by equities research analysts at Bank of America from $82.00 to $88.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 4.76% from the company’s current price.

Separately, Royal Bank of Canada increased their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th.

Sylvamo Trading Down 3.6 %

SLVM stock traded down $3.18 during midday trading on Monday, hitting $84.00. The company had a trading volume of 276,924 shares, compared to its average volume of 321,545. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. Sylvamo has a 52 week low of $40.79 and a 52 week high of $88.42. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 4.60 and a beta of 1.07. The stock’s 50 day moving average price is $74.93 and its 200 day moving average price is $68.68.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. During the same period in the prior year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Sylvamo will post 7.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sylvamo

A number of institutional investors and hedge funds have recently modified their holdings of SLVM. Vanguard Group Inc. raised its position in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after acquiring an additional 138,655 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Sylvamo by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock valued at $90,276,000 after buying an additional 62,157 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Sylvamo in the 2nd quarter worth approximately $62,101,000. American Century Companies Inc. raised its stake in Sylvamo by 53.2% during the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after acquiring an additional 230,291 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Sylvamo by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock valued at $33,176,000 after purchasing an additional 1,779 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.