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

International Paper (NYSE:IP) had its price target upped by equities research analysts at Royal Bank of Canada from $56.00 to $64.00 in a note issued to investors 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 14.76% from the company’s previous close.

Several other analysts have also weighed in on the company. Truist Financial restated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Wells Fargo & Company boosted their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.96.

International Paper Price Performance

Shares of NYSE:IP opened at $55.77 on Friday. The firm’s 50 day moving average is $48.48 and its two-hundred day moving average is $44.99. The firm has a market capitalization of $19.37 billion, a P/E ratio of 47.67 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a 52 week low of $31.76 and a 52 week high of $56.26.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts anticipate that International Paper will post 1.54 earnings per share for the current year.

Insider Buying and Selling at International Paper

In related 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 completion of the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $938,486 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of International Paper

Large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in International Paper by 20.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the period. Retirement Systems of Alabama boosted its position in shares of International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after acquiring an additional 246 shares during the period. Altrius Capital Management Inc grew its stake in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after acquiring an additional 296 shares during the last quarter. 180 Wealth Advisors LLC increased its position in 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 acquiring an additional 327 shares during the period. Finally, Assetmark Inc. raised its stake in International Paper by 38.8% during the 3rd quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 331 shares during 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.