Sylvamo's (SLVM) Neutral Rating Reaffirmed at Bank of America

Key Points

• Bank of America reaffirmed its neutral rating on Sylvamo and maintained a $45 price target, which implies about 20.7% upside from the current share price.
• Other analysts have been mixed on the stock, with recent changes including Zacks upgrading Sylvamo to hold, Truist starting coverage with a buy, and Weiss Ratings downgrading it to sell. Overall, the consensus rating remains Hold with an average target price of $49.33.
• Sylvamo reported a Q1 earnings miss, posting -$0.53 EPS versus expectations of -$0.25, even though revenue came in slightly above estimates at $755 million. The stock was trading near $37.29, close to its 52-week low of $35.53.

Sylvamo (NYSE:SLVM - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Bank of America in a report issued on Tuesday, MarketBeat reports. They currently have a $45.00 target price on the stock. Bank of America's price target would indicate a potential upside of 20.68% from the stock's current price.

Several other research firms have also commented on SLVM. Zacks Research upgraded Sylvamo from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Truist Financial started coverage on shares of Sylvamo in a research report on Monday, March 30th. They set a "buy" rating and a $54.00 price target on the stock. Weiss Ratings cut shares of Sylvamo from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada decreased their price objective on shares of Sylvamo from $50.00 to $49.00 and set a "sector perform" rating for the company in a research report on Monday, May 11th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $49.33.

Sylvamo Stock Performance

NYSE:SLVM traded down $1.99 during midday trading on Tuesday, hitting $37.29. The company's stock had a trading volume of 46,623 shares, compared to its average volume of 345,622. Sylvamo has a fifty-two week low of $35.53 and a fifty-two week high of $56.80. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.45 and a quick ratio of 0.81. The firm has a market cap of $1.48 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.60 and a beta of 0.87. The firm's 50 day moving average is $39.31 and its 200-day moving average is $43.66.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $755.00 million for the quarter, compared to analysts' expectations of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The business's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Equities analysts anticipate that Sylvamo will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Sylvamo

In other news, Director Lizanne M. Bruce sold 1,230 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $41.70, for a total transaction of $51,291.00. Following the completion of the sale, the director owned 14,475 shares of the company's stock, valued at $603,607.50. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sylvamo

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Sylvamo by 49.4% in the first quarter. Royal Bank of Canada now owns 22,853 shares of the company's stock valued at $1,532,000 after acquiring an additional 7,556 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sylvamo by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,690 shares of the company's stock worth $1,388,000 after purchasing an additional 893 shares during the last quarter. Empowered Funds LLC boosted its stake in Sylvamo by 16.9% during the 1st quarter. Empowered Funds LLC now owns 17,730 shares of the company's stock worth $1,189,000 after purchasing an additional 2,557 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Sylvamo by 25.9% during the first quarter. Intech Investment Management LLC now owns 18,140 shares of the company's stock worth $1,217,000 after buying an additional 3,727 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Sylvamo by 23.1% during the second quarter. Russell Investments Group Ltd. now owns 24,621 shares of the company's stock worth $1,234,000 after buying an additional 4,613 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

About Sylvamo

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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