International Paper (NYSE:IP) Price Target Raised to $65.00 at Truist Financial

International Paper (NYSE:IP) had its target price upped by equities researchers at Truist Financial from $61.00 to $65.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s target price indicates a potential upside of 22.99% from the stock’s current price.

IP has been the topic of several other reports. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.99.

International Paper Stock Performance

NYSE IP opened at $52.85 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock has a 50-day moving average of $55.94 and a 200 day moving average of $50.00. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of 45.17 and a beta of 1.03.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now directly owns 38,345 shares in the company, valued at $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 2,400 shares of company stock worth $129,696. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of International Paper by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 270,044 shares of the basic materials company’s stock worth $14,539,000 after purchasing an additional 4,695 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in International Paper during the 4th quarter worth approximately $828,000. GAMMA Investing LLC lifted its holdings in International Paper by 71.6% during the 4th quarter. GAMMA Investing LLC now owns 5,098 shares of the basic materials company’s stock worth $274,000 after buying an additional 2,127 shares in the last quarter. Versant Capital Management Inc boosted its position in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of International Paper by 2.6% in the third quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company’s stock worth $20,412,000 after acquiring an additional 10,632 shares in the last quarter. Institutional investors and hedge funds 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.