Royal Bank Of Canada Cuts Sylvamo (NYSE:SLVM) Price Target to $49.00

Sylvamo (NYSE:SLVM) had its price target reduced by equities researchers at Royal Bank Of Canada from $50.00 to $49.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 16.54% from the company’s current price.

SLVM has been the topic of several other research reports. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of Sylvamo in a research note on Wednesday, January 21st. Finally, Truist Financial assumed coverage on Sylvamo in a research report on Monday, March 30th. They set a “buy” rating and a $54.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Sylvamo presently has an average rating of “Hold” and an average price target of $54.00.

Sylvamo Stock Up 2.3%

Shares of NYSE:SLVM traded up $0.95 on Monday, hitting $42.05. 80,735 shares of the company’s stock were exchanged, compared to its average volume of 337,727. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.45. Sylvamo has a 1-year low of $37.09 and a 1-year high of $57.65. The company has a market capitalization of $1.67 billion, a PE ratio of 16.62, a P/E/G ratio of 0.50 and a beta of 0.91. The firm’s 50-day moving average is $42.60 and its 200 day moving average is $45.97.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The company had revenue of $755.00 million during 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 revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. Sell-side analysts predict that Sylvamo will post 2.75 EPS for the current year.

Insider Activity

In other news, SVP Rodrigo Davoli sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $46.46, for a total transaction of $150,995.00. Following the completion of the sale, the senior vice president owned 46,484 shares in the company, valued at $2,159,646.64. This represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Sylvamo

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Sylvamo by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after acquiring an additional 72,177 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Sylvamo by 11.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,709 shares of the company’s stock valued at $500,000 after purchasing an additional 1,177 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Sylvamo by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 17,932 shares of the company’s stock valued at $757,000 after purchasing an additional 666 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Sylvamo during the 1st quarter worth approximately $1,335,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 3,457.1% in the 1st quarter. Fifth Third Bancorp now owns 19,244 shares of the company’s stock valued at $813,000 after buying an additional 18,703 shares during the period. 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.