Sylvamo (NYSE:SLVM) Trading 3.4% Higher

Sylvamo Corp (NYSE:SLVM)’s stock price shot up 3.4% during mid-day trading on Friday . The company traded as high as $33.77 and last traded at $33.65. 5,034 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 599,679 shares. The stock had previously closed at $32.54.

A number of analysts recently weighed in on SLVM shares. Bank of America downgraded Sylvamo from a “buy” rating to an “underperform” rating and decreased their price target for the company from $41.00 to $38.00 in a research note on Wednesday, December 15th. Zacks Investment Research upgraded Sylvamo from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, December 8th.

The stock has a 50-day simple moving average of $30.00. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.30 and a quick ratio of 0.86.

Sylvamo (NYSE:SLVM) last posted its earnings results on Wednesday, November 10th. The company reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.46. The firm had revenue of $908.00 million for the quarter. On average, analysts expect that Sylvamo Corp will post 7.6 EPS for the current fiscal year.

In other news, CEO Jeanmichel Ribieras purchased 10,000 shares of the company’s stock in a transaction on Monday, November 29th. The stock was bought at an average cost of $31.07 per share, for a total transaction of $310,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory C. Gibson purchased 18,800 shares of the company’s stock in a transaction on Thursday, November 11th. The shares were purchased at an average price of $30.54 per share, with a total value of $574,152.00. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently modified their holdings of SLVM. Tarbox Family Office Inc. bought a new position in Sylvamo during the 4th quarter worth approximately $26,000. Advisor Group Holdings Inc. acquired a new stake in Sylvamo in the 3rd quarter valued at approximately $42,000. CI Investments Inc. acquired a new stake in Sylvamo in the 3rd quarter valued at approximately $69,000. Royal Bank of Canada acquired a new stake in Sylvamo in the 3rd quarter valued at approximately $163,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Sylvamo in the 3rd quarter valued at approximately $295,000. 17.99% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Company Profile (NYSE:SLVM)

Sylvamo Corporation is a paper company with mills principally in Europe, Latin America and North America. The company transform renewable resources into papers for education, communication and entertainment. Sylvamo Corporation is headquartered in Memphis, Tennessee.

Further Reading: Dead Cat Bounce

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