Sylvamo (NYSE:SLVM) Given New $51.00 Price Target at Truist Financial

Key Points

• Truist Financial lowered its price target on Sylvamo from $54 to $51, while keeping a buy rating on the stock. That target still implies roughly 34% upside from the current share price.
• Overall analyst sentiment is more cautious: Sylvamo now has a consensus Hold rating, with an average price target of $48.33 across covering analysts.
• The company recently reported mixed quarterly results, posting a loss of $0.53 per share versus expectations for a smaller loss, though revenue came in above estimates at $755 million.

Sylvamo (NYSE:SLVM - Get Free Report) had its price objective dropped by investment analysts at Truist Financial from $54.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 34.31% from the company's current price.

SLVM has been the subject of a number of other reports. Weiss Ratings cut Sylvamo from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. Bank of America reiterated a "neutral" rating and issued a $45.00 target price on shares of Sylvamo in a report on Tuesday. Royal Bank Of Canada decreased their price objective on Sylvamo from $50.00 to $49.00 and set a "sector perform" rating for the company in a report on Monday, May 11th. Finally, Zacks Research upgraded Sylvamo from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Sylvamo currently has a consensus rating of "Hold" and an average price target of $48.33.

Sylvamo Stock Performance

Shares of SLVM stock opened at $37.97 on Wednesday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.60 and a beta of 0.87. Sylvamo has a 52-week low of $35.53 and a 52-week high of $56.80. The company has a quick ratio of 0.81, a current ratio of 1.45 and a debt-to-equity ratio of 0.78. The company's 50 day moving average is $39.19 and its 200 day moving average is $43.58.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.28). Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The company had revenue of $755.00 million for the quarter, compared to analysts' expectations of $740.85 million. During the same quarter in the prior year, the company earned $0.68 EPS. The firm's quarterly revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Sylvamo will post 2.32 EPS for the current fiscal year.

Insider Transactions at Sylvamo

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $41.70, for a total transaction of $51,291.00. Following the transaction, the director owned 14,475 shares in the company, valued at approximately $603,607.50. This represents a 7.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Sylvamo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Sylvamo by 605.9% during the 4th quarter. Millennium Management LLC now owns 2,233,209 shares of the company's stock valued at $107,529,000 after acquiring an additional 1,916,829 shares during the period. Jain Global LLC acquired a new stake in shares of Sylvamo in the fourth quarter worth $39,072,000. William Blair Investment Management LLC purchased a new position in shares of Sylvamo during the fourth quarter worth $33,777,000. Nomura Holdings Inc. raised its holdings in shares of Sylvamo by 34.1% during the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company's stock worth $95,073,000 after purchasing an additional 546,336 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Sylvamo during the second quarter valued at $15,030,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.

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