International Paper (NYSE:IP) Earns Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of International Paper (NYSE:IP) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $40.00 price target on the basic materials company’s stock.

IP has been the topic of several other reports. Wells Fargo & Company decreased their target price on shares of International Paper from $39.00 to $35.00 and set an equal weight rating on the stock in a research note on Friday, February 2nd. Citigroup raised shares of International Paper from a neutral rating to a buy rating and boosted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America raised shares of International Paper from an underperform rating to a buy rating and boosted their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Royal Bank of Canada reissued an outperform rating and set a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Finally, Argus downgraded shares of International Paper from a buy rating to a hold rating in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $37.13.

International Paper Stock Down 2.4 %

Shares of NYSE IP opened at $35.06 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The firm’s fifty day moving average is $36.72 and its 200 day moving average is $35.84. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 42.76 and a beta of 0.99.

International Paper (NYSE:IP) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities research analysts expect that International Paper will post 1.88 earnings per share for the current year.

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 8,800 shares of company stock worth $310,438. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds have recently bought and sold shares of the company. Pathstone Family Office LLC bought a new position in International Paper in the 3rd quarter worth about $1,164,000. StrategIQ Financial Group LLC bought a new position in International Paper in the 4th quarter worth about $2,271,000. Metis Global Partners LLC boosted its stake in International Paper by 6.7% in the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after purchasing an additional 1,376 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in International Paper by 40.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock worth $743,000 after purchasing an additional 6,033 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in International Paper by 70.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 207,329 shares of the basic materials company’s stock worth $7,495,000 after purchasing an additional 85,429 shares in the last quarter. 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.