International Paper (NYSE:IP) Rating Reiterated by Truist Financial

International Paper (NYSE:IP)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $40.00 price target on the basic materials company’s stock. Truist Financial’s target price would indicate a potential upside of 13.44% from the company’s current price.

Several other equities research analysts also recently issued reports on IP. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Argus cut International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company decreased their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Hold” and a consensus target price of $37.13.

International Paper Stock Up 0.6 %

Shares of IP opened at $35.26 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $36.73 and its two-hundred day moving average is $35.83. The firm has a market cap of $12.25 billion, a P/E ratio of 43.00 and a beta of 0.99. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. Analysts predict that International Paper will post 1.88 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 8,800 shares of company stock worth $310,438 over the last quarter. 0.55% of the stock is currently owned by insiders.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new position in International Paper in the third quarter worth about $25,000. Jones Financial Companies Lllp lifted its position in International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the period. CVA Family Office LLC acquired a new position in International Paper during the fourth quarter worth about $27,000. MCF Advisors LLC raised its holdings in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of International Paper in the fourth quarter worth approximately $27,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.