Suzano (NYSE:SUZ) Shares Gap Down on Analyst Downgrade

Suzano S.A. Sponsored ADR (NYSE:SUZ)’s stock price gapped down prior to trading on Tuesday after Bank of America downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $9.65, but opened at $9.14. Bank of America now has a $11.00 price target on the stock. Suzano shares last traded at $9.1050, with a volume of 2,607,202 shares traded.

SUZ has been the topic of several other reports. Zacks Research lowered Suzano from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Jefferies Financial Group assumed coverage on Suzano in a research note on Thursday, February 5th. They issued a “buy” rating and a $13.40 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Suzano in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.20.

Institutional Investors Weigh In On Suzano

Several hedge funds have recently modified their holdings of SUZ. Caitong International Asset Management Co. Ltd raised its holdings in shares of Suzano by 11,502.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,293 shares of the company’s stock valued at $40,000 after buying an additional 4,256 shares during the period. Parallel Advisors LLC raised its holdings in shares of Suzano by 71.7% during the 3rd quarter. Parallel Advisors LLC now owns 9,341 shares of the company’s stock valued at $88,000 after buying an additional 3,901 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Suzano by 16.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company’s stock valued at $93,000 after buying an additional 1,400 shares during the period. Virtu Financial LLC purchased a new stake in shares of Suzano during the 3rd quarter valued at about $94,000. Finally, Vident Advisory LLC purchased a new stake in shares of Suzano during the 2nd quarter valued at about $97,000. 2.55% of the stock is currently owned by hedge funds and other institutional investors.

Suzano Trading Down 5.9%

The firm has a market capitalization of $11.27 billion, a PE ratio of 4.82, a P/E/G ratio of 0.20 and a beta of 0.73. The company has a debt-to-equity ratio of 2.27, a quick ratio of 2.59 and a current ratio of 3.18. The firm has a fifty day moving average of $10.28 and a 200 day moving average of $9.59.

Suzano (NYSE:SUZ) last announced its earnings results on Wednesday, February 11th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.11. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.30 billion. Suzano had a return on equity of 30.84% and a net margin of 26.11%. Equities research analysts expect that Suzano S.A. Sponsored ADR will post 1.93 EPS for the current year.

Suzano Company Profile

Suzano SA is a Brazil-based pulp and paper company recognized as one of the world’s leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control.

At the core of Suzano’s business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil.