Jefferies Financial Group Has Lowered Expectations for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its target price cut by research analysts at Jefferies Financial Group from $61.00 to $59.00 in a research note issued to investors on Friday,MarketScreener reports. The firm currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 30.19% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group began coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Company reissued an “underweight” rating and set a $43.00 target price (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. downgraded shares of International Paper from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, International Paper presently has a consensus rating of “Hold” and an average target price of $56.02.

International Paper Stock Performance

Shares of IP opened at $45.32 on Friday. International Paper has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a 50-day moving average of $48.41 and a 200 day moving average of $48.52. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of -453.20, a PEG ratio of 0.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, research analysts expect that International Paper will post 2.77 EPS for the current year.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On International Paper

Large investors have recently made changes to their positions in the company. Rise Advisors LLC lifted its stake in shares of International Paper by 281.3% in the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. AlphaQuest LLC lifted its stake in shares of International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of International Paper in the 2nd quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new position in shares of International Paper in the 1st quarter valued at $34,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of International Paper in the 2nd quarter valued at $35,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

About International Paper

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.