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

International Paper (NYSE:IP)‘s stock had its “buy” rating reissued by research analysts at Truist Financial in a report released on Friday, Benzinga reports. They currently have a $61.00 price target on the basic materials company’s stock, up from their prior price target of $57.00. Truist Financial’s price objective would indicate a potential upside of 10.91% from the stock’s previous close.

Several other analysts have also recently issued reports on IP. 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 research note on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus assumed coverage on International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average target price of $50.96.

International Paper Price Performance

Shares of International Paper stock traded down $0.54 during mid-day trading on Friday, reaching $55.00. 2,779,941 shares of the stock traded hands, compared to its average volume of 5,305,095. The stock has a market capitalization of $19.11 billion, a PE ratio of 45.00 and a beta of 1.04. The business has a 50-day moving average of $48.35 and a 200 day moving average of $44.79. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $56.26. The company has a quick ratio of 1.17, a current ratio of 1.59 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 for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that International Paper will post 1.54 EPS for the current year.

Insider Buying and Selling

In other International Paper 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 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 filing with the SEC, which is available through this link. In other news, SVP Joseph R. Saab sold 2,440 shares of International Paper 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 completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 18,840 shares of company stock valued at $906,386. 0.55% of the stock is currently owned by insiders.

Institutional Trading of International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of IP. Massmutual Trust Co. FSB ADV raised its stake in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 239 shares in the last quarter. Retirement Systems of Alabama raised its position in International Paper by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares in the last quarter. Altrius Capital Management Inc grew its position in shares of International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in shares of International Paper by 4.2% during the second quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock worth $351,000 after buying an additional 327 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of International Paper by 0.7% during the third quarter. Stephens Inc. AR now owns 46,282 shares of the basic materials company’s stock worth $2,261,000 after buying an additional 333 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

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.