Sylvamo (NYSE:SLVM) Price Target Raised to $63.00 at Royal Bank of Canada

Sylvamo (NYSE:SLVM - Get Free Report) had its target price hoisted by analysts at Royal Bank of Canada from $56.00 to $63.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price suggests a potential downside of 7.27% from the company's previous close.

Sylvamo Trading Up 5.5 %

NYSE SLVM traded up $3.52 during trading hours on Monday, hitting $67.94. The company's stock had a trading volume of 292,352 shares, compared to its average volume of 342,569. Sylvamo has a twelve month low of $37.59 and a twelve month high of $68.97. The company has a quick ratio of 1.09, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $2.82 billion, a P/E ratio of 14.71, a PEG ratio of 0.35 and a beta of 1.08. The stock has a fifty day moving average of $61.30 and a 200 day moving average of $53.52.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.02. Sylvamo had a return on equity of 24.67% and a net margin of 5.40%. The company had revenue of $905.00 million during the quarter, compared to analyst estimates of $864.38 million. During the same period in the previous year, the company earned $2.51 EPS. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. Equities research analysts forecast that Sylvamo will post 6.15 earnings per share for the current fiscal year.

Insider Transactions at Sylvamo

In related news, SVP Peggy Maes sold 1,000 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total value of $55,090.00. Following the completion of the transaction, the senior vice president now directly owns 10,535 shares of the company's stock, valued at approximately $580,373.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jeanmichel Ribieras sold 12,225 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $57.20, for a total transaction of $699,270.00. Following the sale, the chief executive officer now owns 132,276 shares in the company, valued at approximately $7,566,187.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Peggy Maes sold 1,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total transaction of $55,090.00. Following the completion of the sale, the senior vice president now owns 10,535 shares of the company's stock, valued at approximately $580,373.15. The disclosure for this sale can be found here. Insiders have sold a total of 26,951 shares of company stock valued at $1,618,664 over the last 90 days. 0.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sylvamo

Institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management raised its position in shares of Sylvamo by 170.2% in the third quarter. Hollencrest Capital Management now owns 981 shares of the company's stock valued at $43,000 after purchasing an additional 618 shares during the period. Everence Capital Management Inc. acquired a new stake in Sylvamo during the first quarter worth approximately $217,000. Clearbridge Investments LLC bought a new stake in shares of Sylvamo during the first quarter worth approximately $223,000. Duality Advisers LP acquired a new position in shares of Sylvamo in the first quarter valued at approximately $261,000. Finally, Mackenzie Financial Corp bought a new position in shares of Sylvamo during the fourth quarter worth approximately $219,000. 91.16% of the stock is owned by institutional investors.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.