Sylvamo (NYSE:SLVM) Shares Gap Up to $31.37

Sylvamo Corp (NYSE:SLVM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $31.37, but opened at $32.19. Sylvamo shares last traded at $32.45, with a volume of 1,134 shares changing hands.

Several equities analysts recently weighed in on SLVM shares. Zacks Investment Research raised shares of Sylvamo from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Wednesday, December 8th. Bank of America downgraded Sylvamo from a “buy” rating to an “underperform” rating and cut their price target for the company from $41.00 to $38.00 in a report on Wednesday, December 15th.

The business’s fifty day simple moving average is $30.10. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.30 and a quick ratio of 0.86.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Wednesday, November 10th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.46. The business had revenue of $908.00 million for the quarter. Equities research analysts predict that Sylvamo Corp will post 7.6 earnings per share for the current year.

In other news, SVP Gregory C. Gibson bought 18,800 shares of the company’s stock in a transaction dated Thursday, November 11th. The stock was bought at an average price of $30.54 per share, with a total value of $574,152.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeanmichel Ribieras bought 10,000 shares of the company’s stock in a transaction dated Monday, November 29th. The shares were purchased at an average cost of $31.07 per share, with a total value of $310,700.00. The disclosure for this purchase can be found here.

A number of hedge funds have recently bought and sold shares of SLVM. Tarbox Family Office Inc. acquired a new position in Sylvamo in the fourth quarter valued at about $26,000. Advisor Group Holdings Inc. acquired a new position in Sylvamo in the third quarter valued at about $42,000. CI Investments Inc. acquired a new position in Sylvamo in the third quarter valued at about $69,000. Royal Bank of Canada acquired a new position in Sylvamo in the third quarter valued at about $163,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Sylvamo in the third quarter valued at about $295,000. 17.99% of the stock is owned by institutional investors and hedge funds.

About Sylvamo (NYSE:SLVM)

Sylvamo Corporation is a paper company with mills principally in Europe, Latin America and North America. The company transform renewable resources into papers for education, communication and entertainment. Sylvamo Corporation is headquartered in Memphis, Tennessee.

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