Jefferies Financial Group Boosts International Paper (NYSE:IP) Price Target to $48.00

International Paper (NYSE:IP) had its price objective boosted by stock analysts at Jefferies Financial Group from $47.00 to $48.00 in a research report issued on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 11.19% from the company’s previous close.

Several other equities analysts have also weighed in on IP. Royal Bank Of Canada set a $55.00 price objective on shares of International Paper and gave the company an “outperform” rating in a research report on Thursday, December 18th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Truist Financial upped their target price on International Paper from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Argus dropped their price target on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $49.07.

International Paper Trading Up 3.2%

Shares of NYSE:IP opened at $43.17 on Thursday. International Paper has a 52-week low of $35.56 and a 52-week high of $60.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. The company has a market capitalization of $22.80 billion, a P/E ratio of -16.54, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. The company has a 50-day simple moving average of $39.77 and a 200 day simple moving average of $44.45.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter in the prior year, the company earned $0.33 EPS. International Paper’s quarterly revenue was up 56.4% on a year-over-year basis. Sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in IP. AlphaQuest LLC lifted its holdings in shares of International Paper by 63,400.0% during the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in International Paper during the second quarter valued at approximately $33,000. Sound Income Strategies LLC lifted its stake in International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in International Paper during the second quarter worth $35,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of International Paper in the 3rd quarter valued at $36,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.