Bank of America Reiterates "Underperform" Rating for Sylvamo (NYSE:SLVM)

Sylvamo (NYSE:SLVM - Get Free Report)'s stock had its "underperform" rating restated by research analysts at Bank of America in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $96.00 price target on the stock. Bank of America's price target would indicate a potential upside of 7.53% from the company's previous close.

Separately, Sidoti initiated coverage on Sylvamo in a research note on Tuesday, October 15th. They issued a "buy" rating and a $100.00 price target on the stock.

Sylvamo Trading Down 0.2 %

Sylvamo stock traded down $0.19 during mid-day trading on Wednesday, hitting $89.28. The stock had a trading volume of 411,782 shares, compared to its average volume of 310,448. The stock has a 50-day simple moving average of $87.37 and a two-hundred day simple moving average of $78.33. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $3.66 billion, a PE ratio of 13.92 and a beta of 1.08. Sylvamo has a 12 month low of $44.94 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company had revenue of $965.00 million during the quarter, compared to analysts' expectations of $960.47 million. During the same quarter in the previous year, the company earned $1.70 EPS. Sylvamo's revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sylvamo will post 7.06 EPS for the current year.

Institutional Trading of Sylvamo

Several hedge funds have recently added to or reduced their stakes in SLVM. Pacer Advisors Inc. raised its holdings in Sylvamo by 83,084.0% during the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company's stock worth $197,815,000 after buying an additional 2,301,427 shares during the period. American Century Companies Inc. raised its holdings in shares of Sylvamo by 53.2% during the second quarter. American Century Companies Inc. now owns 662,953 shares of the company's stock worth $45,479,000 after acquiring an additional 230,291 shares during the period. Acadian Asset Management LLC bought a new stake in Sylvamo in the 2nd quarter valued at $9,997,000. International Assets Investment Management LLC boosted its stake in Sylvamo by 6,693.0% in the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock worth $5,931,000 after purchasing an additional 68,068 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Sylvamo by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company's stock worth $90,276,000 after purchasing an additional 62,157 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

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.