JPMorgan Chase & Co. Issues Pessimistic Forecast for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its price target cut by stock analysts at JPMorgan Chase & Co. from $48.00 to $46.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 32.10% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research note on Friday, March 27th. Truist Financial set a $48.00 target price on shares of International Paper in a research note on Thursday, February 26th. UBS Group cut International Paper from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Royal Bank Of Canada dropped their price target on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Finally, BNP Paribas Exane cut their price target on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $46.89.

International Paper Stock Up 0.1%

NYSE IP opened at $34.82 on Thursday. The business has a fifty day moving average price of $41.17 and a 200 day moving average price of $41.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. The company has a market cap of $18.44 billion, a P/E ratio of -5.19 and a beta of 1.14. International Paper has a one year low of $33.57 and a one year high of $56.13.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36). International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. Research analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

Insider Transactions at International Paper

In other news, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the acquisition, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. This trade represents a 102.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew K. Silvernail acquired 50,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the transaction, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $1,999,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 76,092 shares of company stock worth $2,999,064 over the last ninety days. 0.35% of the stock is owned by insiders.

Institutional Trading of International Paper

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC lifted its position in International Paper by 2.6% in the fourth quarter. Hsbc Holdings PLC now owns 906,269 shares of the basic materials company’s stock valued at $35,743,000 after buying an additional 22,984 shares during the last quarter. Stance Capital LLC increased its position in shares of International Paper by 59.2% during the fourth quarter. Stance Capital LLC now owns 61,177 shares of the basic materials company’s stock valued at $2,410,000 after acquiring an additional 22,761 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of International Paper by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company’s stock valued at $523,000 after acquiring an additional 302 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of International Paper by 15.7% in the 4th quarter. Corient Private Wealth LLC now owns 69,766 shares of the basic materials company’s stock valued at $2,756,000 after acquiring an additional 9,490 shares during the period. Finally, SHP Wealth Management acquired a new position in shares of International Paper in the 4th quarter worth approximately $38,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.