Suzano (NYSE:SUZ) Sees Strong Trading Volume After Analyst Upgrade

Suzano S.A. Sponsored ADR (NYSE:SUZ) saw unusually-high trading volume on Monday after Bank of America upgraded the stock from a neutral rating to a buy rating. Bank of America now has a $13.00 price target on the stock. 2,515,209 shares were traded during mid-day trading, a decline of 23% from the previous session’s volume of 3,252,217 shares.The stock last traded at $9.1360 and had previously closed at $8.78.

SUZ has been the topic of several other reports. Weiss Ratings downgraded Suzano from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Zacks Research cut Suzano from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.20.

Hedge Funds Weigh In On Suzano

A number of hedge funds have recently bought and sold shares of the company. Amundi acquired a new stake in Suzano during the first quarter valued at approximately $177,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Suzano by 16.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company’s stock worth $93,000 after acquiring an additional 1,400 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Suzano by 14.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,366 shares of the company’s stock valued at $5,178,000 after acquiring an additional 70,396 shares during the last quarter. Jane Street Group LLC raised its position in shares of Suzano by 264.1% during the 1st quarter. Jane Street Group LLC now owns 82,760 shares of the company’s stock valued at $769,000 after acquiring an additional 60,028 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Suzano by 109.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 245,695 shares of the company’s stock valued at $2,312,000 after acquiring an additional 128,455 shares in the last quarter. 2.55% of the stock is currently owned by institutional investors and hedge funds.

Suzano Price Performance

The company has a 50 day moving average of $8.17 and a 200-day moving average of $9.05. The stock has a market capitalization of $11.33 billion, a P/E ratio of 7.25, a PEG ratio of 0.14 and a beta of 0.56. The company has a quick ratio of 2.75, a current ratio of 3.38 and a debt-to-equity ratio of 1.77.

Suzano (NYSE:SUZ) last released its earnings results on Tuesday, June 30th. The company reported $0.28 earnings per share for the quarter. The firm had revenue of $2.24 billion during the quarter. Suzano had a net margin of 17.20% and a return on equity of 14.92%. Sell-side analysts predict that Suzano S.A. Sponsored ADR will post 1.42 EPS for the current year.

About Suzano

Suzano SA is a Brazil-based pulp and paper company recognized as one of the world’s leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control.

At the core of Suzano’s business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil.