International Paper (NYSE:IP) Rating Reiterated by Truist Financial

International Paper (NYSE:IP)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $40.00 target price on the basic materials company’s stock. Truist Financial’s price objective indicates a potential upside of 13.44% from the stock’s current price.

Several other research firms also recently issued reports on IP. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Finally, Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.13.

International Paper Stock Up 0.6 %

Shares of NYSE IP opened at $35.26 on Wednesday. The stock has a 50-day moving average price of $36.73 and a two-hundred day moving average price of $35.83. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 43.00 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts forecast that International Paper will post 1.88 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 8,800 shares of company stock valued at $310,438 in the last ninety days. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Paper

Several large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in International Paper in the 3rd quarter worth about $25,000. Jones Financial Companies Lllp boosted its stake in International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the period. CVA Family Office LLC bought a new position in International Paper in the 4th quarter worth about $27,000. MCF Advisors LLC boosted its stake in International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in International Paper in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.