Sylvamo (NYSE:SLVM) Given “Underperform” Rating at Bank of America

Bank of America reiterated their underperform rating on shares of Sylvamo (NYSE:SLVM) in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $96.00 price objective on the stock.

Separately, Sidoti initiated coverage on shares of Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock.

Sylvamo Stock Performance

Shares of SLVM stock opened at $87.77 on Wednesday. The firm’s 50 day moving average price is $87.78 and its 200-day moving average price is $78.59. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo has a one year low of $44.94 and a one year high of $98.02. The firm has a market cap of $3.60 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.01 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last released its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 EPS. As a group, equities research analysts predict that Sylvamo will post 7.06 EPS for the current year.

Institutional Investors Weigh In On Sylvamo

A number of hedge funds and other institutional investors have recently modified their holdings of SLVM. Pacer Advisors Inc. raised its holdings in shares of Sylvamo by 83,084.0% in the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock valued at $197,815,000 after purchasing an additional 2,301,427 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after purchasing an additional 230,291 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Sylvamo in the 2nd quarter valued at $9,997,000. International Assets Investment Management LLC raised its holdings in shares of Sylvamo by 6,693.0% in the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock valued at $5,931,000 after purchasing an additional 68,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock valued at $90,276,000 after purchasing an additional 62,157 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

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.