JPMorgan Chase & Co. Has Lowered Expectations for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its target price dropped by research analysts at JPMorgan Chase & Co. from $54.00 to $48.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.16% from the company’s previous close.

A number of other brokerages have also recently commented on IP. Truist Financial lowered their target price on shares of International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. BNP Paribas Exane lowered their target price on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research note on Wednesday, October 8th. Jefferies Financial Group lowered their target price on shares of International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. Finally, UBS Group lowered their target price on shares of International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of “Hold” and an average price target of $51.95.

International Paper Stock Performance

Shares of IP stock opened at $38.66 on Friday. The stock has a market capitalization of $20.41 billion, a P/E ratio of -386.60, a PEG ratio of 0.54 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $46.78 and its 200 day moving average is $47.74. International Paper has a 12 month low of $37.70 and a 12 month high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of International Paper by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock worth $2,991,462,000 after buying an additional 1,255,650 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after buying an additional 4,201,422 shares during the last quarter. State Street Corp increased its holdings in shares of International Paper by 3.2% in the 2nd quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock worth $1,376,175,000 after buying an additional 902,741 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of International Paper by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock worth $622,133,000 after buying an additional 294,296 shares during the last quarter. 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.