International Paper (NYSE:IP) Price Target Raised to $64.00 at Royal Bank of Canada

International Paper (NYSE:IP) had its target price raised by Royal Bank of Canada from $56.00 to $64.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the company. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday. Finally, Stifel Nicolaus assumed coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.96.

International Paper Trading Up 1.5 %

Shares of NYSE IP opened at $56.60 on Friday. The stock’s 50 day moving average price is $48.64 and its two-hundred day moving average price is $45.21. International Paper has a 52-week low of $31.76 and a 52-week high of $56.90. The stock has a market capitalization of $19.66 billion, a P/E ratio of 48.38 and a beta of 1.02. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

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

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Insider Buying and Selling

In other International Paper 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 transaction of $27,660.00. Following the completion of the transaction, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on 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 directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $938,486 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Several large investors have recently modified their holdings of IP. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper in the third quarter valued at $28,000. Tyler Stone Wealth Management lifted its holdings in shares of International Paper by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 16,196 shares of the basic materials company’s stock valued at $791,000 after purchasing an additional 8,098 shares in the last quarter. Del Sette Capital Management LLC lifted its holdings in shares of International Paper by 1.9% in the third quarter. Del Sette Capital Management LLC now owns 42,196 shares of the basic materials company’s stock valued at $2,061,000 after purchasing an additional 804 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of International Paper by 58.7% in the third quarter. Atria Investments Inc now owns 20,192 shares of the basic materials company’s stock valued at $986,000 after purchasing an additional 7,465 shares in the last quarter. 81.95% of the stock is owned by 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.