Truist Financial Reaffirms “Buy” Rating for Sylvamo (NYSE:SLVM)

Sylvamo (NYSE:SLVM)‘s stock had its “buy” rating reiterated by equities researchers at Truist Financial in a report issued on Monday, Benzinga reports. They presently have a $47.00 target price on the stock, up from their previous target price of $40.00. Truist Financial‘s price target would indicate a potential upside of 18.38% from the company’s previous close.

SLVM has been the subject of several other reports. Weiss Ratings restated a “sell (d+)” rating on shares of Sylvamo in a research report on Wednesday. Wall Street Zen raised Sylvamo from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Royal Bank Of Canada decreased their target price on Sylvamo from $46.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, October 16th. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Bank of America dropped their target price on shares of Sylvamo from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sylvamo presently has a consensus rating of “Hold” and an average target price of $43.25.

Sylvamo Stock Up 0.8%

NYSE SLVM opened at $39.70 on Monday. The business has a fifty day moving average price of $34.01 and a two-hundred day moving average price of $39.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.29 and a quick ratio of 0.95. Sylvamo has a fifty-two week low of $30.40 and a fifty-two week high of $56.80. The stock has a market capitalization of $1.58 billion, a PE ratio of -8.80, a PEG ratio of 1.85 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, November 6th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. Sylvamo had a positive return on equity of 8.36% and a negative net margin of 5.81%. The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $817.79 million. During the same quarter last year, the business posted $1.44 EPS. The company’s revenue was down 23.8% compared to the same quarter last year. Equities analysts expect that Sylvamo will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLVM. Nykredit A S bought a new position in shares of Sylvamo in the 2nd quarter valued at $33,000. Farther Finance Advisors LLC boosted its holdings in shares of Sylvamo by 68.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock valued at $36,000 after acquiring an additional 446 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Sylvamo by 54.9% during the 3rd quarter. Signaturefd LLC now owns 1,380 shares of the company’s stock valued at $45,000 after acquiring an additional 489 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Sylvamo during the 2nd quarter worth $68,000. Finally, Versant Capital Management Inc grew its position in Sylvamo by 378.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock worth $100,000 after acquiring an additional 2,092 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

About Sylvamo

Sylvamo Corporation is a global producer of uncoated paper products. The company manufactures papers used for printing, copying, writing, publishing, commercial applications, notebooks, envelopes and other everyday communication needs. Its portfolio includes branded and private-label products serving businesses, retailers, publishers, printers and consumers.

Sylvamo operates paper mills and related facilities in North America, Latin America and Europe, with products sold to customers in numerous markets worldwide.