Fibria Celulose SA (FBR) Upgraded by Zacks Investment Research to “Buy”
Fibria Celulose SA (NYSE:FBR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $8.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.42% from the stock’s previous close.
According to Zacks, “Fibria Celulose S.A., is a Brazil-based paper product company which produces bleached eucalyptus pulp exclusively from renewable plantations, which is mainly targeted to the main consumer markets and is also used for their own manufacturing of paper products. The Company’s paper products can be divided into three major categories: uncoated and coated printing and writing papers; carbonless papers and thermal papers. Coated printing and writing paper is used for promotional materials, folders, internal sheets and cover of magazines, books, tabloids, inserts and mailing. Uncoated printing and writing paper is used in reels, sheets and cut-size designed for maximum performance in photocopying machines and laser and inkjet printers, and alkaline offset paper. Carbonless paper is used in producing multi-copy forms for credit card receipts, invoices and other applications. Thermal paper is used in fax machines, supermarket receipts, bar code labels, toll tickets and receipts for automated teller machines. “
Several other analysts have also recently weighed in on the company. Morgan Stanley cut Fibria Celulose SA from an “overweight” rating to an “equal weight” rating and set a $6.90 price objective on the stock. in a research report on Tuesday, July 26th. Bank of America Corp. cut Fibria Celulose SA from a “buy” rating to a “neutral” rating in a research report on Thursday, July 21st. Finally, FBR & Co cut Fibria Celulose SA from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Fibria Celulose SA presently has a consensus rating of “Hold” and a consensus target price of $20.57.
Shares of Fibria Celulose SA (NYSE:FBR) traded up 1.56% during mid-day trading on Monday, hitting $7.18. The company had a trading volume of 2,466,904 shares. The firm has a market capitalization of $3.98 billion, a PE ratio of 6.38 and a beta of 0.70. The firm has a 50-day moving average price of $6.86 and a 200-day moving average price of $7.67. Fibria Celulose SA has a 52 week low of $5.79 and a 52 week high of $14.94.
Several hedge funds have recently modified their holdings of FBR. Pictet Asset Management Ltd. boosted its stake in shares of Fibria Celulose SA by 105.8% in the second quarter. Pictet Asset Management Ltd. now owns 4,556,162 shares of the company’s stock worth $42,281,000 after buying an additional 2,342,769 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Fibria Celulose SA by 105.5% in the first quarter. Renaissance Technologies LLC now owns 3,527,428 shares of the company’s stock worth $29,913,000 after buying an additional 1,810,628 shares in the last quarter. Global Thematic Partners LLC bought a new stake in shares of Fibria Celulose SA during the second quarter worth approximately $22,921,000. Point72 Asset Management L.P. bought a new stake in shares of Fibria Celulose SA during the second quarter worth approximately $14,129,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Fibria Celulose SA by 81.0% in the second quarter. Bank of New York Mellon Corp now owns 1,958,282 shares of the company’s stock worth $13,238,000 after buying an additional 876,444 shares in the last quarter. 8.09% of the stock is currently owned by hedge funds and other institutional investors.
Fibria Celulose SA Company Profile
Fibria Celulose SA (Fibria) is a Brazil-based pulp and paper producer. The Company’s activities are focused on the renewable and sustainable forests and the manufacture and sale of bleached eucalyptus kraft pulp. Forests in formation are located in the states of Sao Paulo, Mato Grosso do Sul, Minas Gerais, Rio de Janeiro, Espirito Santo, Bahia and Rio Grande do Sul.
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