Sylvamo's (SLVM) "Buy" Rating Reaffirmed at Truist Financial

Key Points

• Truist reaffirmed its Buy rating on Sylvamo and raised its price target from $40 to $47, implying 18.38% upside from the previous close.
• Analyst opinion is mixed overall: MarketBeat reports a consensus Hold rating and average price target of $43.25, based on two Buy, three Hold, and one Sell rating.
• Sylvamo beat quarterly EPS expectations, reporting $1.33 versus $1.13 estimated, but revenue fell 23.8% year over year to $645 million and missed analyst estimates.

Sylvamo (NYSE:SLVM - Get Free Report)'s stock had its "buy" rating reissued by analysts at Truist Financial in a report issued on Monday, Benzinga reports. They presently have a $47.00 price target on the stock, up from their prior price target of $40.00. Truist Financial's price target points to a potential upside of 18.38% from the company's previous close.

Several other research analysts have also weighed in on the company. Wells Fargo & Company started coverage on Sylvamo in a research report on Wednesday, September 16th. They set an "overweight" rating and a $47.00 price target on the stock. Zacks Research upgraded shares of Sylvamo from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Bank of America reduced their price target on Sylvamo from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, October 14th. Wall Street Zen upgraded Sylvamo from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Sylvamo in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sylvamo presently has a consensus rating of "Hold" and an average price target of $43.25.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $39.70 on Monday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -8.80, a PEG ratio of 1.85 and a beta of 0.87. The business has a 50-day moving average of $34.01 and a 200-day moving average of $39.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.29 and a quick ratio of 0.95. Sylvamo has a fifty-two week low of $30.40 and a fifty-two week high of $56.80.

Sylvamo (NYSE:SLVM - Get Free Report) last released its earnings results on Friday, November 6th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. Sylvamo had a positive return on equity of 8.36% and a negative net margin of 5.81%. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $817.79 million. During the same quarter in the prior year, the company posted $1.44 earnings per share. Sylvamo's revenue was down 23.8% on a year-over-year basis. As a group, sell-side analysts predict that Sylvamo will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLVM. Dimensional Fund Advisors LP raised its stake in Sylvamo by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company's stock valued at $57,547,000 after purchasing an additional 72,177 shares in the last quarter. State Street Corp grew its stake in Sylvamo by 5.2% during the second quarter. State Street Corp now owns 1,389,749 shares of the company's stock worth $52,533,000 after buying an additional 69,299 shares in the last quarter. William Blair Investment Management LLC grew its stake in Sylvamo by 27.4% during the third quarter. William Blair Investment Management LLC now owns 776,124 shares of the company's stock worth $25,364,000 after buying an additional 167,038 shares in the last quarter. Allianz Asset Management GmbH grew 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 buying an additional 69,195 shares in the last quarter. Finally, Rokos Capital Management LLP acquired a new stake in Sylvamo during the first quarter worth about $10,802,000. 91.16% of the stock is owned by institutional investors.

About Sylvamo

Sylvamo Corporation is a global producer of uncoated paper products. The company manufactures papers used for printing, copying, writing, publishing, commercial applications, notebooks, envelopes and other everyday communication needs. Its portfolio includes branded and private-label products serving businesses, retailers, publishers, printers and consumers.

Sylvamo operates paper mills and related facilities in North America, Latin America and Europe, with products sold to customers in numerous markets worldwide.

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