Suzano (NYSE:SUZ) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of Suzano (NYSE:SUZ) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm currently has $11.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Suzano in a report on Friday, March 27th. Zacks Research downgraded Suzano from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group began coverage on Suzano in a research report on Thursday, February 5th. They set a “buy” rating and a $13.40 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Suzano has an average rating of “Moderate Buy” and an average target price of $12.20.

Suzano Price Performance

Shares of NYSE SUZ opened at $9.02 on Tuesday. Suzano has a twelve month low of $8.41 and a twelve month high of $11.53. The company has a current ratio of 3.18, a quick ratio of 2.59 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 4.77, a PEG ratio of 0.20 and a beta of 0.73. The firm has a 50-day moving average of $10.26 and a two-hundred day moving average of $9.58.

Suzano (NYSE:SUZ) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.11. Suzano had a net margin of 26.11% and a return on equity of 30.84%. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.30 billion. As a group, analysts expect that Suzano will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of Suzano

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its stake in Suzano by 11,502.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,293 shares of the company’s stock valued at $40,000 after buying an additional 4,256 shares in the last quarter. Parallel Advisors LLC lifted its stake in Suzano by 71.7% during the third quarter. Parallel Advisors LLC now owns 9,341 shares of the company’s stock valued at $88,000 after buying an additional 3,901 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Suzano by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company’s stock valued at $93,000 after purchasing an additional 1,400 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Suzano in the third quarter valued at $94,000. Finally, Vident Advisory LLC purchased a new stake in shares of Suzano in the second quarter valued at $97,000. 2.55% of the stock is owned by hedge funds and other institutional investors.

About Suzano

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.