Suzano (NYSE:SUZ) Shares Gap Down After Analyst Downgrade

Suzano S.A. Sponsored ADR (NYSE:SUZ) gapped down before the market opened on Tuesday after Bank of America downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $9.65, but opened at $9.14. Bank of America now has a $11.00 price target on the stock. Suzano shares last traded at $9.1050, with a volume of 2,607,202 shares trading hands.

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

Hedge Funds Weigh In On Suzano

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

Suzano Trading Down 6.5%

The company has a market capitalization of $11.19 billion, a P/E ratio of 4.77, a P/E/G ratio of 0.20 and a beta of 0.73. The stock’s 50 day moving average is $10.26 and its 200-day moving average is $9.58. The company has a debt-to-equity ratio of 2.27, a current ratio of 3.18 and a quick ratio of 2.59.

Suzano (NYSE:SUZ) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping 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, equities research analysts anticipate that Suzano S.A. Sponsored ADR will post 1.93 earnings per share for the current year.

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.