International Paper (NYSE:IP) Given New $44.00 Price Target at Citigroup

International Paper (NYSE:IP) had its price objective trimmed by Citigroup from $47.00 to $44.00 in a research note published on Tuesday, MarketBeat.com reports. The firm currently has a buy rating on the basic materials company’s stock.

IP has been the topic of a number of other reports. Wells Fargo & Company reduced their target price on shares of International Paper from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, March 20th. JPMorgan Chase & Co. reduced their target price on shares of International Paper from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. UBS Group reduced their target price on shares of International Paper from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Royal Bank Of Canada reduced their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.31.

International Paper Price Performance

IP stock opened at $36.53 on Tuesday. International Paper has a 1 year low of $33.57 and a 1 year high of $56.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The stock has a market cap of $19.34 billion, a price-to-earnings ratio of -5.44 and a beta of 1.14. The company has a 50 day simple moving average of $40.45 and a 200 day simple moving average of $41.05.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.90 billion. During the same period in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue 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.

Insiders Place Their Bets

In related news, CEO Andrew K. Silvernail bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the transaction, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anders Gustafsson bought 13,217 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director directly owned 26,092 shares in the company, valued at $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 76,092 shares of company stock worth $2,999,064 in the last quarter. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC raised its holdings in International Paper by 2.6% during the fourth quarter. Hsbc Holdings PLC now owns 906,269 shares of the basic materials company’s stock worth $35,743,000 after buying an additional 22,984 shares during the last quarter. Stance Capital LLC raised its holdings in International Paper by 59.2% during the fourth quarter. Stance Capital LLC now owns 61,177 shares of the basic materials company’s stock worth $2,410,000 after buying an additional 22,761 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in 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 worth $523,000 after buying an additional 302 shares during the last quarter. Corient Private Wealth LLC raised its holdings in International Paper by 15.7% during the fourth quarter. Corient Private Wealth LLC now owns 69,766 shares of the basic materials company’s stock worth $2,756,000 after buying an additional 9,490 shares during the last quarter. Finally, SHP Wealth Management acquired a new position in International Paper during the fourth quarter worth $38,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.