International Paper (NYSE:IP) Given New $51.00 Price Target at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its price target upped by JPMorgan Chase & Co. from $43.00 to $51.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 38.99% from the stock’s current price.

A number of other research firms have also recently commented on IP. Wells Fargo & Company raised their price target on shares of International Paper from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial dropped their price objective on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Citigroup reduced their target price on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, UBS Group reduced their target price on International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.64.

International Paper Price Performance

International Paper stock opened at $36.69 on Thursday. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of -5.77 and a beta of 0.94. International Paper has a 52-week low of $29.26 and a 52-week high of $56.13. The stock’s 50 day moving average price is $34.41 and its two-hundred day moving average price is $38.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, equities analysts predict that International Paper will post 1.39 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Scott Tozier bought 10,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $31.30 per share, with a total value of $313,000.00. Following the transaction, the director directly owned 10,025 shares in the company, valued at $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Trading of International Paper

A number of institutional investors and hedge funds have recently modified their holdings of IP. McIlrath & Eck LLC increased its position in shares of International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new position in International Paper during the fourth quarter valued at about $25,000. Ascentis Independent Advisors purchased a new stake in International Paper during the first quarter worth about $28,000. DV Equities LLC purchased a new stake in International Paper during the fourth quarter worth about $29,000. Finally, Sound Income Strategies LLC raised its position in International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.