JPMorgan Chase & Co. Cuts International Paper (NYSE:IP) Price Target to $45.00

International Paper (NYSE:IP) had its target price decreased by JPMorgan Chase & Co. from $46.00 to $45.00 in a report issued on Wednesday morning,MarketScreener reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

Several other analysts also recently issued reports on IP. UBS Group decreased their target price on International Paper from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. 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. Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. BNP Paribas Exane raised shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, November 24th. Finally, Truist Financial lifted their price target on shares of International Paper from $47.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.07.

International Paper Stock Performance

IP stock opened at $43.17 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. International Paper has a 1 year low of $35.56 and a 1 year high of $60.15. The company has a market cap 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 stock’s fifty day moving average price is $39.77 and its 200-day moving average price is $44.45.

International Paper (NYSE:IP) last issued 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 company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.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 earned $0.33 EPS. On average, equities analysts forecast that International Paper will post 2.77 earnings per share for the current year.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of institutional investors and hedge funds have recently modified their holdings of IP. AlphaQuest LLC grew its position in shares of International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in International Paper during the 2nd quarter valued at approximately $33,000. Sound Income Strategies LLC boosted its stake in International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 344 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the 2nd quarter valued at approximately $35,000. Finally, Kelleher Financial Advisors bought a new position in International Paper in the 3rd quarter worth approximately $36,000. 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.