JPMorgan Chase & Co. Lowers International Paper (NYSE:IP) Price Target to $46.00

International Paper (NYSE:IP) had its price target dropped by analysts at JPMorgan Chase & Co. from $48.00 to $46.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.02% from the company’s current price.

Several other research firms have also commented on IP. Stifel Nicolaus set a $57.80 price target on International Paper and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a report on Monday. Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Truist Financial cut their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Jefferies Financial Group decreased their target price on shares of International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.44.

International Paper Stock Up 0.5%

Shares of IP traded up $0.18 during mid-day trading on Friday, hitting $39.31. The company’s stock had a trading volume of 674,319 shares, compared to its average volume of 5,846,927. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average is $42.16 and its 200-day moving average is $46.28. International Paper has a 52-week low of $35.56 and a 52-week high of $60.15. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of -15.06, a PEG ratio of 1.23 and a beta of 1.09.

International Paper (NYSE:IP) last issued 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). The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

Institutional Trading of International Paper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IP. Vanguard Group Inc. increased its holdings in shares of International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after purchasing an additional 21,428,455 shares during the period. Capital International Investors boosted its position in International Paper by 51.4% in the third quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after buying an additional 16,622,062 shares during the last quarter. Norges Bank acquired a new position in International Paper in the 2nd quarter worth approximately $281,735,000. Price T Rowe Associates Inc. MD increased its holdings in International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after buying an additional 4,201,422 shares during the period. Finally, Capital Research Global Investors raised its position in International Paper by 7.5% during the 3rd quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock worth $2,520,945,000 after buying an additional 3,768,772 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.