International Paper (NYSE:IP) Stock Rating Reaffirmed by Truist Financial

Truist Financial reissued their buy rating on shares of International Paper (NYSE:IP) in a report released on Thursday morning, Benzinga reports. Truist Financial currently has a $52.00 price objective on the basic materials company’s stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company increased their target price 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. Jefferies Financial Group upgraded International Paper from a hold rating to a buy rating and raised their price objective for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Bank of America upgraded International Paper from an underperform rating to a buy rating and raised their price objective for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Finally, Citigroup upgraded International Paper from a neutral rating to a buy rating and raised their price objective for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $44.71.

International Paper Stock Performance

NYSE IP opened at $43.15 on Thursday. The business’s 50-day moving average price is $41.76 and its 200 day moving average price is $38.40. International Paper has a twelve month low of $30.78 and a twelve month high of $47.40. The company has a market capitalization of $14.99 billion, a PE ratio of 88.06 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, research analysts predict that International Paper will post 1.86 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.29%. International Paper’s payout ratio is currently 377.55%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 3,000 shares of company stock worth $121,392 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Paper

A number of hedge funds have recently bought and sold shares of IP. Venturi Wealth Management LLC grew its position in shares of International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 295 shares in the last quarter. Czech National Bank grew its position in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after acquiring an additional 295 shares in the last quarter. Kentucky Retirement Systems grew its position in shares of International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after acquiring an additional 298 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of International Paper by 4.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after purchasing an additional 318 shares during the last quarter. Finally, Outfitter Financial LLC lifted its holdings in shares of International Paper by 1.1% in the 4th quarter. Outfitter Financial LLC now owns 30,350 shares of the basic materials company’s stock worth $1,097,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds 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.