International Paper’s (IP) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of International Paper (NYSE:IP) in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $64.00 price objective on the basic materials company’s stock.

Several other brokerages have also commented on IP. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Performance

IP opened at $55.65 on Friday. The stock has a market cap of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a fifty day moving average price of $56.06 and a 200 day moving average price of $51.67. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 6.49% and a net margin of 2.25%. Equities research analysts anticipate that International Paper will post 1.07 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of large investors have recently modified their holdings of IP. Brooklyn Investment Group purchased a new stake in International Paper during the third quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in shares of International Paper in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in International Paper during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the third quarter valued at $28,000. Finally, Versant Capital Management Inc boosted its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other 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.