Sylvamo (NYSE:SLVM – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
Several other equities research analysts have also issued reports on SLVM. Bank of America restated a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Zacks Research lowered shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada decreased their price objective on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research note on Friday, July 17th. Finally, Truist Financial dropped their target price on Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $47.33.
Get Our Latest Stock Report on Sylvamo
Sylvamo Stock Performance
Sylvamo (NYSE:SLVM – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.28). Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $740.85 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sylvamo will post 2.2 earnings per share for the current year.
Insider Buying and Selling at Sylvamo
In other news, Director Lizanne M. Bruce sold 1,230 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $41.70, for a total transaction of $51,291.00. Following the transaction, the director owned 14,475 shares of the company’s stock, valued at approximately $603,607.50. This represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.81% of the company’s stock.
Institutional Trading of Sylvamo
Several institutional investors and hedge funds have recently made changes to their positions in SLVM. Royal Bank of Canada grew its holdings in Sylvamo by 49.4% during the 1st quarter. Royal Bank of Canada now owns 22,853 shares of the company’s stock worth $1,532,000 after acquiring an additional 7,556 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sylvamo by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,690 shares of the company’s stock valued at $1,388,000 after purchasing an additional 893 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Sylvamo by 16.9% in the 1st quarter. Empowered Funds LLC now owns 17,730 shares of the company’s stock valued at $1,189,000 after purchasing an additional 2,557 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Sylvamo by 25.9% in the 1st quarter. Intech Investment Management LLC now owns 18,140 shares of the company’s stock worth $1,217,000 after purchasing an additional 3,727 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Sylvamo by 23.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,621 shares of the company’s stock worth $1,234,000 after purchasing an additional 4,613 shares during the period. 91.16% of the stock is currently owned by institutional investors.
Sylvamo Company Profile
Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.
The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.
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