Sylvamo (NYSE:SLVM) Price Target Lowered to $61.00 at Royal Bank of Canada

Sylvamo (NYSE:SLVM - Get Free Report) had its target price dropped by investment analysts at Royal Bank of Canada from $70.00 to $61.00 in a report released on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price suggests a potential upside of 8.39% from the stock's previous close.

Sylvamo Trading Up 0.6%

NYSE:SLVM traded up $0.35 on Monday, hitting $56.28. The stock had a trading volume of 258,792 shares, compared to its average volume of 331,018. The company has a fifty day moving average price of $61.24 and a two-hundred day moving average price of $74.09. Sylvamo has a 1-year low of $51.60 and a 1-year high of $98.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.23 and a beta of 1.18.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. The company had revenue of $821.00 million during the quarter, compared to analysts' expectations of $819.61 million. During the same period last year, the firm posted $1.07 earnings per share. Sylvamo's revenue was down 9.3% on a year-over-year basis. Equities research analysts expect that Sylvamo will post 7.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, the chief executive officer now directly owns 131,894 shares of the company's stock, valued at $8,591,575.16. The trade was a 13.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sylvamo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its holdings in shares of Sylvamo by 5.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,639 shares of the company's stock valued at $288,000 after purchasing an additional 193 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company's stock worth $52,000 after buying an additional 201 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company's stock valued at $58,000 after acquiring an additional 214 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Sylvamo by 12.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock worth $159,000 after buying an additional 218 shares in the last quarter. Finally, MorganRosel Wealth Management LLC boosted its stake in shares of Sylvamo by 1.3% during the 1st quarter. MorganRosel Wealth Management LLC now owns 17,472 shares of the company's stock worth $1,172,000 after acquiring an additional 223 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

About Sylvamo

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.