International Paper (NYSE:IP) Receives Average Recommendation of “Moderate Buy” from Brokerages

International Paper (NYSE:IP) has received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $51.99.

Several analysts recently issued reports on IP shares. Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday, November 13th.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,800 shares of company stock valued at $100,848 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in IP. Brooklyn Investment Group purchased a new position in International Paper in the third quarter worth $25,000. Ashton Thomas Securities LLC purchased a new position 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 about $28,000. Versant Capital Management Inc boosted its holdings 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 worth $32,000 after acquiring an additional 448 shares in the last quarter. Finally, City State Bank boosted its holdings in International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.2 %

Shares of IP stock opened at $56.94 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The stock has a market cap of $19.78 billion, a P/E ratio of 48.67 and a beta of 1.03. The company has a 50 day simple moving average of $56.01 and a two-hundred day simple moving average of $50.64.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business 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 business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.18 earnings per share for the current year.

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.