Sylvamo (NYSE:SLVM) Stock Price Target Lowered at Bank of America

Key Points

• Bank of America lowered Sylvamo’s price target from $45 to $42 while maintaining a neutral rating, implying approximately 30.5% upside from the reported share price.
• Analyst sentiment remains mixed but leans toward caution: Sylvamo has a consensus rating of “Hold” and an average price target of $43.75.
• Sylvamo slightly exceeded quarterly EPS expectations at $0.03 versus $0.02, though revenue of $806 million fell short of estimates and prior-year EPS declined from $0.37.

Sylvamo (NYSE:SLVM - Get Free Report) had its price target cut by equities research analysts at Bank of America from $45.00 to $42.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Bank of America's target price indicates a potential upside of 30.47% from the company's current price.

A number of other equities research analysts also recently weighed in on SLVM. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sylvamo in a report on Friday, August 7th. Wells Fargo & Company started coverage on Sylvamo in a report on Wednesday, September 16th. They set an "overweight" rating and a $47.00 price target on the stock. Truist Financial reduced their price objective on shares of Sylvamo from $49.00 to $40.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank Of Canada lowered their price objective on shares of Sylvamo from $49.00 to $46.00 and set a "sector perform" rating for the company in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Sylvamo from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $43.75.

Sylvamo Stock Performance

SLVM stock opened at $32.19 on Wednesday. The stock has a 50-day moving average price of $35.82 and a 200-day moving average price of $38.48. Sylvamo has a 1-year low of $30.40 and a 1-year high of $56.80. 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 firm has a market cap of $1.28 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. The company had revenue of $806.00 million for the quarter, compared to the consensus estimate of $811.25 million. During the same period in the previous year, the business earned $0.37 EPS. The firm's revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Sylvamo will post 1.53 earnings per share for the current year.

Hedge Funds Weigh In On Sylvamo

A number of institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH increased its position in shares of 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 acquiring an additional 69,195 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Sylvamo in the 2nd quarter worth about $1,299,000. SG Americas Securities LLC lifted its position in Sylvamo by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 242,221 shares of the company's stock valued at $10,231,000 after acquiring an additional 18,653 shares in the last quarter. Rokos Capital Management LLP bought a new position in Sylvamo in the 1st quarter valued at about $10,802,000. Finally, State Street Corp lifted its position in Sylvamo by 5.2% in the 2nd quarter. State Street Corp now owns 1,389,749 shares of the company's stock valued at $52,533,000 after acquiring an additional 69,299 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.