International Paper (NYSE:IP) Price Target Raised to $57.00

International Paper (NYSE:IP) had its price target hoisted by analysts at Truist Financial from $55.00 to $57.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s price target would indicate a potential upside of 18.80% from the company’s previous close.

IP has been the subject of a number of other reports. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. 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, Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.46.

International Paper Trading Up 0.5 %

International Paper stock opened at $47.98 on Tuesday. The stock has a 50-day moving average of $47.86 and a two-hundred day moving average of $44.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a one year low of $31.76 and a one year high of $50.68. The stock has a market cap of $16.66 billion, a PE ratio of 97.92 and a beta of 1.04.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business posted $0.59 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the sale, the director now directly owns 38,945 shares of the company’s stock, valued at $1,872,475.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the sale, the director now directly owns 38,945 shares in the company, valued at approximately $1,872,475.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $934,142 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in shares of International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after acquiring an additional 199,687 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of International Paper in the first quarter valued at approximately $1,312,000. Brookstone Capital Management lifted its position in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after acquiring an additional 237,837 shares in the last quarter. Finally, Lloyd Advisory Services LLC. lifted its position in shares of International Paper by 471.4% in the first quarter. Lloyd Advisory Services LLC. now owns 35,030 shares of the basic materials company’s stock valued at $1,367,000 after acquiring an additional 28,899 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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.