Royal Bank of Canada Cuts Sylvamo (NYSE:SLVM) Price Target to $80.00

Sylvamo (NYSE:SLVM - Get Free Report) had its target price decreased by research analysts at Royal Bank of Canada from $83.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank of Canada's price target would indicate a potential upside of 11.23% from the stock's previous close.

Separately, Bank of America restated an "underperform" rating and set a $96.00 price target on shares of Sylvamo in a report on Wednesday, December 11th.

Sylvamo Trading Up 0.2 %

SLVM stock traded up $0.13 during trading on Thursday, hitting $71.93. The company had a trading volume of 420,391 shares, compared to its average volume of 229,346. The business has a 50-day moving average of $80.01 and a 200-day moving average of $81.54. Sylvamo has a one year low of $50.00 and a one year high of $98.02. The stock has a market cap of $2.95 billion, a PE ratio of 11.19, a PEG ratio of 2.22 and a beta of 1.12. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. Research analysts predict that Sylvamo will post 7.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sylvamo

A number of institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC raised its position in Sylvamo by 116.6% in the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock valued at $38,000 after buying an additional 239 shares during the last quarter. GAMMA Investing LLC raised its position in Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $40,000 after buying an additional 171 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Sylvamo by 182.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock valued at $49,000 after buying an additional 403 shares during the last quarter. Fifth Third Bancorp raised its position in Sylvamo by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company's stock valued at $58,000 after buying an additional 214 shares during the last quarter. Finally, Covestor Ltd raised its position in Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after buying an additional 641 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Company Profile

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.