Sylvamo (NYSE:SLVM) Given New $71.00 Price Target at Royal Bank of Canada

Sylvamo (NYSE:SLVM) had its price target upped by stock analysts at Royal Bank of Canada from $63.00 to $71.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential downside of 4.51% from the stock’s previous close.

Separately, Bank of America reissued a “neutral” rating and set a $82.00 price target (up from $71.00) on shares of Sylvamo in a research note on Monday.

Sylvamo Trading Down 1.9 %

SLVM traded down $1.43 on Monday, hitting $74.35. The company had a trading volume of 160,538 shares, compared to its average volume of 325,042. The company has a market cap of $3.06 billion, a PE ratio of 15.72, a PEG ratio of 0.33 and a beta of 1.07. Sylvamo has a 12-month low of $37.59 and a 12-month high of $77.32. The business’s fifty day simple moving average is $69.84 and its 200 day simple moving average is $63.47. The company has a quick ratio of 1.09, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, August 9th. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.34. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The firm had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. During the same period in the previous year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts expect that Sylvamo will post 6.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SLVM. Vanguard Group Inc. lifted its position in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after purchasing an additional 138,655 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock valued at $90,276,000 after buying an additional 62,157 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Sylvamo during the 2nd quarter worth approximately $62,101,000. American Century Companies Inc. lifted its position in Sylvamo by 53.2% during the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after acquiring an additional 230,291 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock valued at $33,176,000 after acquiring an additional 1,779 shares in the last quarter. 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.