Royal Bank Of Canada Cuts Sylvamo (NYSE:SLVM) Price Target to $46.00

Sylvamo (NYSE:SLVM) had its target price dropped by equities research analysts at Royal Bank Of Canada from $49.00 to $46.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 19.32% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Zacks Research cut shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Bank of America restated a “neutral” rating and set a $45.00 target price on shares of Sylvamo in a report on Tuesday. Weiss Ratings downgraded Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Truist Financial cut their price objective on Sylvamo from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $47.33.

Sylvamo Stock Down 2.6%

SLVM stock traded down $1.01 during mid-day trading on Friday, hitting $38.55. The stock had a trading volume of 92,648 shares, compared to its average volume of 345,711. Sylvamo has a 1-year low of $35.53 and a 1-year high of $56.80. The company has a fifty day moving average of $38.97 and a 200 day moving average of $43.43. The company has a current ratio of 1.45, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.83 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts expect that Sylvamo will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Sylvamo

Several large investors have recently added to or reduced their stakes in SLVM. Millennium Management LLC increased its holdings in shares of Sylvamo by 605.9% during the fourth quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock worth $107,529,000 after buying an additional 1,916,829 shares in the last quarter. Nomura Holdings Inc. grew its position in Sylvamo by 34.1% during the 3rd quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock worth $95,073,000 after acquiring an additional 546,336 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock worth $57,547,000 after acquiring an additional 72,177 shares during the last quarter. State Street Corp increased its holdings in Sylvamo by 2.6% during the 4th quarter. State Street Corp now owns 1,341,850 shares of the company’s stock valued at $64,610,000 after purchasing an additional 34,551 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in Sylvamo by 12.5% in the 3rd quarter. Wasatch Advisors LP now owns 941,999 shares of the company’s stock valued at $41,655,000 after purchasing an additional 104,778 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

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.