Zacks Research Downgrades Suzano (NYSE:SUZ) to Strong Sell

Suzano (NYSE:SUZ) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other analysts have also recently weighed in on the company. Bank of America upgraded Suzano from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, August 24th. Weiss Ratings cut shares of Suzano from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.20.

Suzano Stock Performance

Shares of NYSE:SUZ opened at $9.14 on Thursday. Suzano has a 1 year low of $7.55 and a 1 year high of $11.53. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 0.14 and a beta of 0.55. The company has a debt-to-equity ratio of 1.77, a current ratio of 3.38 and a quick ratio of 2.75. The company’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $8.97.

Suzano (NYSE:SUZ) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $2.24 billion for the quarter. Suzano had a return on equity of 14.92% and a net margin of 17.20%. As a group, research analysts predict that Suzano will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Suzano

Several institutional investors have recently added to or reduced their stakes in SUZ. Amundi bought a new position in shares of Suzano during the 1st quarter worth approximately $177,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Suzano by 16.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company’s stock valued at $93,000 after acquiring an additional 1,400 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Suzano by 14.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,366 shares of the company’s stock valued at $5,178,000 after acquiring an additional 70,396 shares during the period. Jane Street Group LLC boosted its stake in Suzano by 264.1% during the first quarter. Jane Street Group LLC now owns 82,760 shares of the company’s stock worth $769,000 after acquiring an additional 60,028 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Suzano by 109.6% during the second quarter. JPMorgan Chase & Co. now owns 245,695 shares of the company’s stock worth $2,312,000 after acquiring an additional 128,455 shares in the last quarter. 2.55% of the stock is owned by institutional investors and hedge funds.

Suzano Company Profile

Suzano SA is a Brazil-based pulp and paper company recognized as one of the world’s leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control.

At the core of Suzano’s business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil.