Bank of America Upgrades Suzano (NYSE:SUZ) to Buy

Key Points

• Bank of America upgraded Suzano from “neutral” to “buy” and set a $13.00 price target, implying 48.23% upside from the stock’s $8.77 price.
• Analyst sentiment remains mixed: Suzano has an overall “Hold” consensus rating and an average price target of $13.20, with ratings ranging from Buy to Sell.
• Suzano reported quarterly earnings of $0.28 per share on $2.24 billion in revenue, while institutional investors own 2.55% of the company.

Suzano (NYSE:SUZ - Get Free Report) was upgraded by analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $13.00 price target on the stock. Bank of America's price target indicates a potential upside of 48.23% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Suzano from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. Zacks Research lowered Suzano from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.20.

Suzano Trading Down 0.1%

Shares of NYSE:SUZ opened at $8.77 on Monday. The stock's 50-day simple moving average is $8.17 and its two-hundred day simple moving average is $9.05. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 6.96, a PEG ratio of 0.14 and a beta of 0.56. Suzano has a 52-week low of $7.55 and a 52-week high of $11.53. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.75 and a current ratio of 3.38.

Suzano (NYSE:SUZ - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.28 earnings per share for the quarter. The firm had revenue of $2.24 billion for the quarter. Suzano had a net margin of 17.20% and a return on equity of 14.92%. Analysts expect that Suzano will post 1.42 EPS for the current year.

Institutional Trading of Suzano

A number of hedge funds and other institutional investors have recently modified their holdings of SUZ. Caitong International Asset Management Co. Ltd lifted its stake in shares of Suzano by 11,502.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,293 shares of the company's stock valued at $40,000 after buying an additional 4,256 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Suzano during the first quarter valued at about $51,000. Parallel Advisors LLC lifted its position in shares of Suzano by 71.7% in the third quarter. Parallel Advisors LLC now owns 9,341 shares of the company's stock valued at $88,000 after acquiring an additional 3,901 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Suzano by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company's stock worth $93,000 after acquiring an additional 1,400 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Suzano during the third quarter worth about $94,000. 2.55% of the stock is owned by hedge funds and other institutional investors.

Suzano Company Profile

Suzano SA is a Brazil-based pulp and paper company recognized as one of the world's leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control.

At the core of Suzano's business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil.

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