Citigroup Initiates Coverage on International Paper (NYSE:IP)

Citigroup began coverage on shares of International Paper (NYSE:IP) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $60.00 price target on the basic materials company’s stock. Citigroup’s target price would indicate a potential upside of 15.85% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average price target of $54.86.

International Paper Stock Down 1.4 %

Shares of NYSE:IP opened at $51.79 on Wednesday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The business has a 50 day simple moving average of $55.53 and a two-hundred day simple moving average of $53.19. The firm has a market capitalization of $27.25 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, equities analysts predict that International Paper will post 2.77 EPS for the current year.

Institutional Trading of International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in IP. Sierra Ocean LLC acquired a new position in International Paper during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in shares of International Paper in the third quarter valued at about $25,000. Picton Mahoney Asset Management lifted its holdings in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of International Paper in the third quarter valued at about $28,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.