Bank of America Increases Sylvamo (NYSE:SLVM) Price Target to $88.00

Sylvamo (NYSE:SLVM) had its price objective raised by stock analysts at Bank of America from $82.00 to $88.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 3.66% from the stock’s previous close.

Separately, Royal Bank of Canada raised their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th.

Sylvamo Trading Up 2.4 %

NYSE:SLVM opened at $84.89 on Monday. Sylvamo has a 1 year low of $40.79 and a 1 year high of $88.42. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 4.60 and a beta of 1.07. The business has a fifty day moving average of $75.21 and a 200-day moving average of $68.83. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. During the same period in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that Sylvamo will post 7.4 earnings per share for the current year.

Institutional Trading of Sylvamo

A number of institutional investors and hedge funds have recently bought and sold shares of SLVM. CWM LLC lifted its position in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares in the last quarter. Independence Bank of Kentucky raised its stake in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares in the last quarter. Fifth Third Bancorp raised its stake in Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares in the last quarter. Lazard Asset Management LLC bought a new position in Sylvamo in the first quarter worth about $45,000. Finally, Blue Trust Inc. increased its stake in shares of Sylvamo by 534.1% during the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $56,000 after purchasing an additional 689 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

About Sylvamo

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.