Sylvamo (NYSE:SLVM) Downgraded to “Strong Sell” Rating by Zacks Research

Sylvamo (NYSE:SLVM) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Royal Bank Of Canada decreased their price target on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Bank of America restated a “neutral” rating and set a $45.00 price target on shares of Sylvamo in a research report on Tuesday. Finally, Truist Financial dropped their price objective on shares of Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $48.33.

Sylvamo Stock Performance

Shares of NYSE:SLVM opened at $37.70 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.45 and a quick ratio of 0.81. Sylvamo has a 1 year low of $35.53 and a 1 year high of $56.80. The firm has a market capitalization of $1.50 billion, a PE ratio of 14.90, a P/E/G ratio of 0.60 and a beta of 0.87. The business’s 50 day moving average price is $39.05 and its 200-day moving average price is $43.50.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. As a group, equities research analysts expect that Sylvamo will post 2.25 earnings per share for the current fiscal year.

Insider Transactions at Sylvamo

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

Institutional Investors Weigh In On Sylvamo

A number of hedge funds have recently modified their holdings of the company. Wedge Capital Management L L P NC increased its position in Sylvamo by 6.1% during the second quarter. Wedge Capital Management L L P NC now owns 40,355 shares of the company’s stock worth $1,525,000 after purchasing an additional 2,335 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Sylvamo by 378.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock valued at $100,000 after buying an additional 2,092 shares during the period. Empowered Funds LLC grew its stake in shares of Sylvamo by 3.8% in the 1st quarter. Empowered Funds LLC now owns 152,602 shares of the company’s stock valued at $6,446,000 after buying an additional 5,599 shares during the period. Bank of America Corp DE increased its holdings in shares of Sylvamo by 81.6% during the 1st quarter. Bank of America Corp DE now owns 224,199 shares of the company’s stock worth $9,470,000 after buying an additional 100,746 shares during the last quarter. Finally, Amundi acquired a new stake in shares of Sylvamo during the 1st quarter worth approximately $214,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Company Profile

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.