Morgan Stanley Upgrades Fibria Celulose SA (FBR) to Overweight
Fibria Celulose SA (NYSE:FBR) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday.
Separately, Zacks Investment Research lowered shares of Fibria Celulose SA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.07.
Fibria Celulose SA (NYSE:FBR) traded up 4.56% during trading on Tuesday, reaching $9.85. 1,903,636 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $7.93 and its 200 day moving average price is $7.39. The firm has a market cap of $5.64 billion, a P/E ratio of 6.96 and a beta of 0.44. Fibria Celulose SA has a 52-week low of $5.79 and a 52-week high of $13.89.
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Institutional investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in Fibria Celulose SA during the second quarter worth approximately $102,000. Princeton Alpha Management LP acquired a new position in Fibria Celulose SA during the third quarter worth approximately $109,000. Global X Management Co. LLC raised its position in Fibria Celulose SA by 3.7% in the second quarter. Global X Management Co. LLC now owns 16,729 shares of the company’s stock worth $113,000 after buying an additional 595 shares in the last quarter. First Trust Advisors LP raised its position in Fibria Celulose SA by 90.5% in the third quarter. First Trust Advisors LP now owns 22,939 shares of the company’s stock worth $162,000 after buying an additional 10,896 shares in the last quarter. Finally, US Bancorp DE raised its position in Fibria Celulose SA by 6,476.7% in the second quarter. US Bancorp DE now owns 25,386 shares of the company’s stock worth $172,000 after buying an additional 25,000 shares in the last quarter. 6.95% of the stock is currently owned by institutional investors and hedge funds.
About Fibria Celulose SA
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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