Sylvamo (NYSE:SLVM) Stock Moved Up to Hold by Zacks Research

Key Points

• Zacks Research upgraded Sylvamo from “strong sell” to “hold,” while analysts overall maintain an average “hold” rating and a $44.50 price target.
• Sylvamo shares opened at $32.19, near their 52-week low of $30.40 and below the 50-day and 200-day moving averages. The company reported quarterly EPS of $0.03, beating estimates, while revenue of $806 million increased 1.5% year over year but fell short of expectations.
• Institutional investors own 91.16% of Sylvamo, with firms including Bank of America, Dimensional Fund Advisors, State Street, and Allianz increasing their holdings recently.

Sylvamo (NYSE:SLVM - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Sylvamo from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Royal Bank Of Canada dropped 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. Weiss Ratings restated a "sell (d+)" rating on shares of Sylvamo in a research report on Friday, August 7th. Wells Fargo & Company initiated coverage on Sylvamo in a research note on Wednesday, September 16th. They set an "overweight" rating and a $47.00 price target on the stock. Finally, Bank of America restated a "neutral" rating and set a $45.00 target price on shares of Sylvamo in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sylvamo currently has an average rating of "Hold" and an average price target of $44.50.

Sylvamo Stock Performance

Sylvamo stock opened at $32.19 on Monday. Sylvamo has a 1 year low of $30.40 and a 1 year high of $56.80. The company has a market cap of $1.28 billion, a PE ratio of 15.43, a PEG ratio of 1.12 and a beta of 0.87. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88. The company's 50-day moving average is $35.82 and its two-hundred day moving average is $38.48.

Sylvamo (NYSE:SLVM - Get Free Report) last released its earnings results on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $806.00 million for 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%. The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities analysts anticipate that Sylvamo will post 1.53 earnings per share for the current year.

Institutional Trading of Sylvamo

Several large investors have recently modified their holdings of the business. Rokos Capital Management LLP acquired a new position in shares of Sylvamo during the first quarter valued at approximately $10,802,000. Bank of America Corp DE boosted its stake in Sylvamo by 81.6% during the first quarter. Bank of America Corp DE now owns 224,199 shares of the company's stock worth $9,470,000 after buying an additional 100,746 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company's stock worth $57,547,000 after acquiring an additional 72,177 shares during the period. State Street Corp grew its holdings in shares of Sylvamo by 5.2% in the second quarter. State Street Corp now owns 1,389,749 shares of the company's stock valued at $52,533,000 after purchasing an additional 69,299 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Sylvamo by 15.8% during the second quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company's stock worth $19,132,000 after purchasing an additional 69,195 shares during the period. 91.16% of the stock is owned by institutional investors.

About Sylvamo

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.

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