Royal Bank of Canada Forecasts Strong Price Appreciation for International Paper (NYSE:IP) Stock

International Paper (NYSE:IP) had its price objective raised by analysts at Royal Bank of Canada from $56.00 to $64.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price points to a potential upside of 15.27% from the stock’s previous close.

A number of other analysts have also recently weighed in on IP. Argus raised shares of 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. Wells Fargo & Company lifted 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. Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Finally, Truist Financial reissued a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.96.

International Paper Stock Performance

International Paper stock traded down $0.02 during trading hours on Friday, reaching $55.52. 6,143,030 shares of the company were exchanged, compared to its average volume of 5,321,501. The stock has a 50-day moving average of $48.35 and a 200 day moving average of $44.79. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $31.76 and a 12 month high of $56.26. The firm has a market cap of $19.29 billion, a price-to-earnings ratio of 45.74 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. As a group, research analysts anticipate that International Paper will post 1.54 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock valued at $938,486. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in International Paper by 133.7% during the second 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 grew its position in International Paper by 35.1% in 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 during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper during the 2nd quarter valued at $119,012,000. Samlyn Capital LLC bought a new stake in International Paper during the 2nd quarter worth $88,966,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of International Paper in the second quarter valued at approximately $81,187,000. 81.95% of the stock is owned by institutional investors and hedge funds.

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.