Royal Bank of Canada Lowers Sylvamo (NYSE:SLVM) Price Target to $61.00

Sylvamo (NYSE:SLVM) had its price target decreased by equities researchers at Royal Bank of Canada from $70.00 to $61.00 in a report released on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 15.56% from the company’s current price.

Sylvamo Price Performance

Shares of NYSE:SLVM traded up $0.15 on Monday, reaching $52.79. The company’s stock had a trading volume of 200,624 shares, compared to its average volume of 328,031. Sylvamo has a 52-week low of $51.60 and a 52-week high of $98.02. The company has a market cap of $2.15 billion, a P/E ratio of 7.34, a PEG ratio of 2.23 and a beta of 1.18. The company has a 50-day simple moving average of $62.41 and a 200 day simple moving average of $74.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The firm had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $819.61 million. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Sylvamo’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities research analysts anticipate that Sylvamo will post 7.45 EPS for the current fiscal year.

Insider Activity

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares of the company’s stock, valued at $8,591,575.16. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Sylvamo

Several hedge funds and other institutional investors have recently modified their holdings of SLVM. GAMMA Investing LLC increased its position in shares of Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after acquiring an additional 201 shares during the last quarter. Blue Trust Inc. lifted its stake in Sylvamo by 224.6% in the fourth quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock worth $969,000 after acquiring an additional 7,808 shares during the last quarter. Barclays PLC lifted its position in shares of Sylvamo by 324.6% during the 3rd quarter. Barclays PLC now owns 62,435 shares of the company’s stock worth $5,360,000 after buying an additional 47,730 shares during the last quarter. Bank of Montreal Can raised its position in Sylvamo by 10.3% in the 4th quarter. Bank of Montreal Can now owns 6,304 shares of the company’s stock valued at $498,000 after purchasing an additional 587 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Sylvamo by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company’s stock worth $363,000 after buying an additional 300 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

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.