Sylvamo (NYSE:SLVM – Get Free Report) had its price target hoisted by investment analysts at Bank of America from $82.00 to $88.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 3.66% from the company’s previous close.
Separately, Royal Bank of Canada lifted their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th.
Get Our Latest Analysis on SLVM
Sylvamo Trading Up 2.4 %
Sylvamo (NYSE:SLVM – Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The company had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same period in the previous year, the firm posted $1.14 EPS. Sylvamo’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Sylvamo will post 7.4 earnings per share for the current year.
Institutional Trading of Sylvamo
A number of hedge funds and other institutional investors have recently made changes to their positions in SLVM. CWM LLC lifted its holdings in Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares during the last quarter. Fifth Third Bancorp increased its position in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after purchasing an additional 303 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Sylvamo during the first quarter worth about $45,000. Finally, Blue Trust Inc. increased its position in Sylvamo by 534.1% during the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after purchasing an additional 689 shares during the last quarter. 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.
Further Reading
- Five stocks we like better than Sylvamo
- 3 Small Caps With Big Return Potential
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- Best Stocks Under $10.00
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- High Flyers: 3 Natural Gas Stocks for March 2022
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Receive News & Ratings for Sylvamo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sylvamo and related companies with MarketBeat.com's FREE daily email newsletter.