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

International Paper (NYSE:IP) had its price target lowered by research analysts at Truist Financial from $48.00 to $44.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s target price points to a potential upside of 21.55% from the company’s current price.

Other research analysts have also issued research reports about the company. BNP Paribas Exane dropped their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Argus dropped their target price on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft began coverage on International Paper in a research report on Wednesday, April 1st. They set a “hold” rating and a $38.00 target price for the company. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research report on Friday, March 27th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.48.

International Paper Stock Down 0.9%

Shares of NYSE:IP opened at $36.20 on Wednesday. International Paper has a 1 year low of $33.57 and a 1 year high of $56.13. The business has a 50 day simple moving average of $40.12 and a two-hundred day simple moving average of $40.98. The firm has a market capitalization of $19.17 billion, a PE ratio of -5.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02.

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 net margin of 14.12% and a negative return on equity of 0.35%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter last year, the firm earned ($0.02) EPS. The firm’s quarterly revenue was up 53.1% on a year-over-year basis. On average, equities analysts predict that International Paper will post 2.77 EPS for the current year.

Insider Buying and Selling

In other news, Director Anders Gustafsson purchased 13,217 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the acquisition, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the acquisition, 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 purchased 76,092 shares of company stock valued at $2,999,064 in the last quarter. 0.21% of the stock is owned by company insiders.

Institutional Trading of International Paper

A number of large investors have recently modified their holdings of IP. AE Wealth Management LLC lifted its holdings in International Paper by 8.5% during the third quarter. AE Wealth Management LLC now owns 332,310 shares of the basic materials company’s stock worth $15,419,000 after buying an additional 26,146 shares during the period. Caprock Group LLC purchased a new stake in International Paper during the third quarter worth $2,340,000. Advisors Preferred LLC purchased a new stake in International Paper during the third quarter worth $1,181,000. Icon Advisers Inc. Co. purchased a new stake in International Paper during the third quarter worth $4,853,000. Finally, Barclays PLC lifted its holdings in International Paper by 12.4% during the third quarter. Barclays PLC now owns 2,348,177 shares of the basic materials company’s stock worth $108,955,000 after buying an additional 259,371 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

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.