International Paper (NYSE:IP) Receives $37.13 Consensus Target Price from Brokerages

Shares of International Paper (NYSE:IP) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $37.13.

A number of brokerages recently weighed in on IP. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Wells Fargo & Company decreased their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, March 20th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th.

International Paper Trading Up 3.1 %

NYSE IP opened at $39.39 on Monday. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average price is $35.96 and its 200-day moving average price is $35.44. The stock has a market cap of $13.64 billion, a P/E ratio of 48.04 and a beta of 0.98.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. International Paper’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. As a group, equities analysts forecast that International Paper will post 1.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 22nd were given a $0.4625 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.85 annualized dividend and a yield of 4.70%. International Paper’s payout ratio is presently 225.61%.

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 7,600 shares of company stock valued at $264,418 in the last 90 days. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in International Paper by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock valued at $2,391,000 after buying an additional 3,209 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of International Paper by 4.5% in the first quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 369 shares in the last quarter. Desjardins Global Asset Management Inc. increased its position in International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of International Paper during the 1st quarter valued at about $206,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of International Paper by 1.6% in the 1st quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock valued at $1,947,000 after acquiring an additional 676 shares during the last quarter. Hedge funds and other institutional investors 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.