Truist Financial Reaffirms Buy Rating for International Paper (NYSE:IP)

International Paper (NYSE:IP)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a research note issued to investors on Thursday, Benzinga reports. They presently have a $52.00 target price on the basic materials company’s stock. Truist Financial’s price objective would suggest a potential upside of 20.45% from the stock’s current price.

IP has been the subject of a number of other reports. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Wells Fargo & Company raised their price target on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price target for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

International Paper Stock Down 0.2 %

NYSE IP opened at $43.17 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The company has a market capitalization of $14.99 billion, a P/E ratio of 88.10 and a beta of 1.06. International Paper has a one year low of $30.78 and a one year high of $47.40. The stock has a 50 day moving average price of $41.76 and a 200-day moving average price of $38.37.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts predict that International Paper will post 1.85 EPS for the current fiscal year.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 3,600 shares of company stock worth $144,744. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Paper

Institutional investors have recently made changes to their positions in the company. MCF Advisors LLC increased its stake in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares during the period. Jones Financial Companies Lllp grew its stake 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 valued at $25,000 after purchasing an additional 475 shares during the last quarter. Crewe Advisors LLC purchased a new position in International Paper in the first quarter valued at about $29,000. CVA Family Office LLC purchased a new position in International Paper in the fourth quarter valued at about $27,000. Finally, Assetmark Inc. grew its stake in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.