Royal Bank of Canada Issues Pessimistic Forecast for Sylvamo (NYSE:SLVM) Stock Price

Sylvamo (NYSE:SLVM) had its price target reduced by research analysts at Royal Bank of Canada from $83.00 to $80.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.19% from the company’s current price.

Separately, Bank of America reiterated an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Stock Up 1.1 %

Shares of NYSE:SLVM traded up $0.78 during trading on Thursday, hitting $71.31. 122,966 shares of the company were exchanged, compared to its average volume of 254,306. Sylvamo has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 2.22 and a beta of 1.12. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average price of $80.73 and a two-hundred day moving average price of $81.53.

Sylvamo (NYSE:SLVM) last issued its earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. As a group, research analysts anticipate that Sylvamo will post 7.15 earnings per share for the current fiscal year.

Institutional Trading of Sylvamo

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after acquiring an additional 171 shares during the period. Fifth Third Bancorp boosted its position in shares of 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 increased its position 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 acquiring an additional 218 shares during the period. Fortitude Family Office LLC raised its stake in Sylvamo by 116.6% in the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after purchasing an additional 239 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in Sylvamo by 7.9% in the 4th quarter. Wedmont Private Capital now owns 3,726 shares of the company’s stock valued at $281,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Company Profile

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.