Royal Bank of Canada Lowers Sylvamo (NYSE:SLVM) Price Target to $80.00

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

Separately, Bank of America restated an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th.

Sylvamo Price Performance

Sylvamo stock traded up $0.78 during trading hours on Thursday, reaching $71.31. 122,966 shares of the stock were exchanged, compared to its average volume of 254,306. The stock has a 50 day moving average of $80.73 and a two-hundred day moving average of $81.53. The company has a market cap of $2.92 billion, a P/E ratio of 11.09, a price-to-earnings-growth 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. Sylvamo has a twelve month low of $44.94 and a twelve month high of $98.02.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Sylvamo will post 7.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sylvamo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. GAMMA Investing LLC grew its holdings in Sylvamo by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after acquiring an additional 171 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Sylvamo by 182.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $49,000 after acquiring an additional 403 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock worth $58,000 after purchasing an additional 214 shares during the period. Finally, LRI Investments LLC lifted its holdings in shares of Sylvamo by 4,825.0% during the third quarter. LRI Investments LLC now owns 788 shares of the company’s stock worth $66,000 after purchasing an additional 772 shares during the period. Institutional investors 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.