International Paper (NYSE:IP) Given New $40.00 Price Target at Royal Bank of Canada

International Paper (NYSE:IP – Get Rating) had its price objective hoisted by investment analysts at Royal Bank of Canada from $36.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price indicates a potential downside of 1.74% from the company’s current price.

IP has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on shares of International Paper from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday. BMO Capital Markets dropped their price objective on International Paper from $60.00 to $50.00 in a report on Friday, October 28th. Bank of America dropped their price target on shares of International Paper from $46.00 to $37.00 in a research note on Thursday, October 13th. Truist Financial increased their target price on shares of International Paper from $30.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered International Paper from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $44.00 to $29.00 in a report on Tuesday, October 18th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.22.

International Paper Trading Down 2.7 %

NYSE IP traded down $1.11 during trading hours on Wednesday, reaching $40.71. The company had a trading volume of 477,825 shares, compared to its average volume of 3,194,815. The stock has a 50-day moving average of $36.52 and a 200 day moving average of $37.36. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. International Paper has a 1-year low of $30.69 and a 1-year high of $50.23. The stock has a market capitalization of $14.48 billion, a P/E ratio of 7.75 and a beta of 1.01.

International Paper (NYSE:IP – Get Rating) last released its earnings results on Tuesday, January 31st. The basic materials company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.18. International Paper had a return on equity of 15.47% and a net margin of 9.14%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the company posted $0.78 EPS. International Paper’s revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that International Paper will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other International Paper news, SVP Thomas J. Plath sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $36.00, for a total value of $72,000.00. Following the transaction, the senior vice president now directly owns 49,953 shares of the company’s stock, valued at approximately $1,798,308. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of institutional investors have recently added to or reduced their stakes in IP. Kestra Private Wealth Services LLC lifted its holdings in shares of International Paper by 79.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,568 shares of the basic materials company’s stock valued at $643,000 after buying an additional 8,249 shares during the period. Keybank National Association OH grew its stake in shares of International Paper by 3.5% during the 4th quarter. Keybank National Association OH now owns 10,785 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 369 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of International Paper by 31.2% in the fourth quarter. Kestra Advisory Services LLC now owns 136,728 shares of the basic materials company’s stock valued at $4,735,000 after purchasing an additional 32,507 shares during the period. AE Wealth Management LLC boosted its holdings in International Paper by 37.2% during the fourth quarter. AE Wealth Management LLC now owns 549,965 shares of the basic materials company’s stock worth $19,045,000 after buying an additional 148,997 shares in the last quarter. Finally, Community Bank N.A. grew its position in International Paper by 32.0% during the fourth quarter. Community Bank N.A. now owns 12,073 shares of the basic materials company’s stock worth $418,000 after buying an additional 2,930 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About International Paper

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.