Sylvamo (NYSE:SLVM – Free Report) had its price objective boosted by Royal Bank of Canada from $63.00 to $71.00 in a report issued on Monday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.
Separately, Bank of America reiterated a neutral rating and issued a $82.00 target price (up previously from $71.00) on shares of Sylvamo in a research note on Monday.
Check Out Our Latest Research Report on SLVM
Sylvamo Stock Up 0.9 %
Sylvamo (NYSE:SLVM – Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.40. The business had revenue of $933.00 million for the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. On average, equities research analysts predict that Sylvamo will post 6.9 earnings per share for the current fiscal year.
Institutional Trading of Sylvamo
Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its stake in Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the period. Independence Bank of Kentucky increased its holdings in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares during the last quarter. Fifth Third Bancorp increased its holdings in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sylvamo in the first quarter worth about $45,000. Finally, Blue Trust Inc. increased its stake in shares of Sylvamo by 534.1% during the 2nd quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after purchasing an additional 689 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.
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.
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