Sylvamo (NYSE:SLVM) Upgraded by Wells Fargo & Company to "Strong-Buy" Rating

Key Points

• Wells Fargo upgraded Sylvamo to “strong buy,” but broader analyst sentiment remains “Hold,” with a consensus price target of $46.75.
• Sylvamo shares opened at $35.97, near the lower end of their 52-week range of $34.25 to $56.80, with the stock trading below both its 50-day and 200-day moving averages.
• The company slightly exceeded quarterly EPS expectations, reporting $0.03 versus $0.02 forecast, while revenue reached $806 million and rose 1.5% year over year; institutional investors own 91.16% of the stock.

Sylvamo (NYSE:SLVM - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "strong-buy" rating in a research report issued on Wednesday, Zacks reports.

A number of other equities analysts have also recently issued reports on the stock. 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 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 note on Tuesday, July 14th. Wall Street Zen upgraded shares of Sylvamo from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Truist Financial reiterated a "buy" rating and issued a $49.00 price target (down from $51.00) on shares of Sylvamo in a research note on Monday, August 10th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Sylvamo in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.75.

Sylvamo Price Performance

Shares of SLVM stock opened at $35.97 on Wednesday. The business has a fifty day simple moving average of $37.38 and a 200 day simple moving average of $39.60. The company has a market cap of $1.43 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.25 and a beta of 0.86. 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 has a twelve month low of $34.25 and a twelve month high of $56.80.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.The firm had revenue of $806.00 million during the quarter, compared to the consensus estimate of $811.25 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business's quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Sylvamo will post 1.53 EPS for the current fiscal year.

Institutional Trading of Sylvamo

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC acquired a new stake in shares of Sylvamo during the 4th quarter worth approximately $33,777,000. Life Cycle Investment Partners Ltd bought a new stake in Sylvamo in the 4th quarter valued at about $13,438,000. Rokos Capital Management LLP acquired a new position in Sylvamo during the 1st quarter worth approximately $10,802,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Sylvamo by 84,243.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 128,202 shares of the company's stock worth $6,173,000 after acquiring an additional 128,050 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Sylvamo by 81.6% in the first quarter. Bank of America Corp DE now owns 224,199 shares of the company's stock worth $9,470,000 after acquiring an additional 100,746 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Company Profile

Sylvamo Corporation NYSE: SLVM is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, education, office applications, books, envelopes and other everyday communications. Its portfolio includes consumer and business paper brands such as Hammermill, along with products sold under regional and private-label brands.

Sylvamo serves customers through operations and distribution networks in North America, Latin America and Europe. Its products are sold to merchants, retailers, businesses, publishers, printers and other commercial customers.

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