International Paper (NYSE:IP) Price Target Raised to $57.00 at Truist Financial

International Paper (NYSE:IP) had its price objective raised by Truist Financial from $55.00 to $57.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

IP has been the subject of several other reports. Seaport Res Ptn upgraded International Paper from a hold rating to a strong-buy rating in a research note on Friday, June 28th. Stifel Nicolaus started coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a hold rating and a $48.70 target price for the company. Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the company an outperform rating in a report on Thursday, July 25th. Argus upgraded shares of International Paper from a hold rating to a buy rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the company an equal weight rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $50.46.

International Paper Stock Down 0.7 %

Shares of IP stock opened at $47.73 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a one year low of $31.76 and a one year high of $50.68. The company’s fifty day moving average price is $47.79 and its 200-day moving average price is $44.03. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 97.41 and a beta of 1.04.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. Sell-side analysts expect that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.88%. International Paper’s dividend payout ratio is currently 377.55%.

Insider Buying and Selling at International Paper

In other 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 transaction of $27,660.00. Following the transaction, 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 SEC, which can be accessed through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’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 completion of the sale, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. 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 a total of 18,840 shares of company stock worth $905,294 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its stake in shares of International Paper by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the period. Wellington Management Group LLP increased its position in shares of International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after acquiring an additional 199,687 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of International Paper during the first quarter valued at approximately $1,312,000. Brookstone Capital Management boosted its holdings in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after purchasing an additional 237,837 shares during the period. Finally, Lloyd Advisory Services LLC. grew its stake in International Paper by 471.4% in the first quarter. Lloyd Advisory Services LLC. now owns 35,030 shares of the basic materials company’s stock worth $1,367,000 after purchasing an additional 28,899 shares in the last quarter. 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.