Analysts Set International Paper (NYSE:IP) Target Price at $51.96

International Paper (NYSE:IP) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $51.96.

Several research firms have commented on IP. Royal Bank of Canada lifted their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th.

International Paper Stock Down 0.7 %

Shares of NYSE:IP opened at $58.41 on Tuesday. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 49.92 and a beta of 1.02. The business’s 50 day moving average is $49.02 and its 200 day moving average is $45.46. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that International Paper will post 1.44 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

Insider Transactions at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,440 shares of company stock valued at $938,486. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC grew its holdings in shares of International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares during the period. Altrius Capital Management Inc boosted its holdings in International Paper by 0.3% during the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares during the period. Finally, OneDigital Investment Advisors LLC grew its position in International Paper by 5.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 314 shares during the last quarter. Institutional investors 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.