Brokerages Set International Paper (NYSE:IP) Price Target at $51.54

Shares of International Paper (NYSE:IP) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $51.54.

Several equities research analysts have weighed in on IP shares. Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. 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. Royal Bank of Canada lifted their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th.

Insider Buying and Selling at International Paper

In related news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares in the company, valued at $792,729.36. This represents a 22.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were 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 in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,040 shares of company stock valued at $540,104. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in shares of International Paper in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the 3rd quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper during the 3rd quarter worth $28,000. Innealta Capital LLC acquired a new position in shares of International Paper during the 2nd quarter valued at about $26,000. Finally, Eastern Bank acquired a new stake in International Paper during the third quarter worth about $40,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 0.6 %

Shares of IP stock opened at $58.46 on Friday. The company’s fifty day simple moving average is $52.59 and its two-hundred day simple moving average is $48.21. International Paper has a 52 week low of $32.70 and a 52 week high of $60.36. The stock has a market cap of $20.31 billion, a P/E ratio of 49.96 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.16%. International Paper’s payout ratio is 158.12%.

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.