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

International Paper (NYSE:IP)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a report issued on Friday, Benzinga reports. They presently have a $61.00 target price on the basic materials company’s stock, up from their previous target price of $57.00. Truist Financial’s target price suggests a potential upside of 9.38% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company upped their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus started coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. 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 report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $51.96.

International Paper Trading Up 0.4 %

Shares of International Paper stock opened at $55.77 on Friday. The firm has a market cap of $19.37 billion, a PE ratio of 47.67 and a beta of 1.02. International Paper has a 1 year low of $31.76 and a 1 year high of $56.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.17. The stock has a fifty day moving average price of $48.48 and a 200-day moving average price of $44.99.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. Equities research analysts anticipate that International Paper will post 1.54 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, August 15th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the business’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 completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $938,486 in the last ninety days. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Paper

A number of large investors have recently bought and sold shares of IP. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after acquiring an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in International Paper in the second quarter worth about $119,012,000. Samlyn Capital LLC bought a new stake in shares of International Paper during the second quarter valued at approximately $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new position in International Paper in the 2nd quarter worth approximately $81,187,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.