Sylvamo (NYSE:SLVM) Price Target Lowered to $51.00 at Truist Financial

Sylvamo (NYSE:SLVM) had its target price dropped by Truist Financial from $54.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 34.31% from the company’s previous close.

Several other research analysts also recently weighed in on SLVM. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada cut their price target on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Bank of America restated a “neutral” rating and set a $45.00 price objective on shares of Sylvamo in a research report on Tuesday. Finally, Weiss Ratings downgraded shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sylvamo currently has a consensus rating of “Hold” and a consensus target price of $48.33.

Sylvamo Trading Down 3.3%

Shares of NYSE:SLVM opened at $37.97 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Sylvamo has a 12-month low of $35.53 and a 12-month high of $56.80. The business has a 50 day moving average of $39.19 and a two-hundred day moving average of $43.58. The company has a market capitalization of $1.51 billion, a PE ratio of 15.01, a PEG ratio of 0.60 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. As a group, analysts forecast that Sylvamo will post 2.32 EPS for the current year.

Insider Activity

In other news, Director Lizanne M. Bruce sold 1,230 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $41.70, for a total transaction of $51,291.00. Following the completion of the sale, the director owned 14,475 shares of the company’s stock, valued at $603,607.50. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Sylvamo

Several hedge funds and other institutional investors have recently modified their holdings of SLVM. Wedge Capital Management L L P NC increased its holdings in shares of Sylvamo by 0.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 30,727 shares of the company’s stock valued at $1,480,000 after purchasing an additional 245 shares during the period. Lazard Asset Management LLC grew its position in Sylvamo by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 29,415 shares of the company’s stock valued at $1,473,000 after buying an additional 259 shares during the last quarter. Rock Point Advisors LLC grew its position in Sylvamo by 0.3% in the 4th quarter. Rock Point Advisors LLC now owns 82,314 shares of the company’s stock valued at $3,963,000 after buying an additional 265 shares during the last quarter. UMB Bank n.a. increased its position in Sylvamo by 171.2% during the 4th quarter. UMB Bank n.a. now owns 564 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Sylvamo by 162.7% during the 4th quarter. Farther Finance Advisors LLC now owns 838 shares of the company’s stock worth $40,000 after purchasing an additional 519 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

About Sylvamo

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.