Truist Financial Increases International Paper (NYSE:IP) Price Target to $65.00

International Paper (NYSE:IP) had its price objective raised by investment analysts at Truist Financial from $61.00 to $65.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Truist Financial’s target price suggests a potential upside of 22.99% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada boosted their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating 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 price target on the stock. in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $51.99.

International Paper Stock Down 0.6 %

Shares of IP opened at $52.85 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $55.94 and a 200 day moving average of $50.00. The company has a market cap of $18.36 billion, a PE ratio of 45.17 and a beta of 1.03. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the business earned $0.64 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that International Paper will post 1.18 EPS for the current year.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 2,400 shares of company stock worth $129,696 in the last three months. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IP. TD Asset Management Inc increased its stake in shares of International Paper by 3.4% in the second quarter. TD Asset Management Inc now owns 121,009 shares of the basic materials company’s stock worth $5,222,000 after acquiring an additional 3,984 shares during the period. National Bank of Canada FI lifted its holdings in shares of International Paper by 13.4% in the 2nd quarter. National Bank of Canada FI now owns 167,021 shares of the basic materials company’s stock valued at $7,236,000 after buying an additional 19,789 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of International Paper by 0.5% in the 2nd quarter. Victory Capital Management Inc. now owns 775,079 shares of the basic materials company’s stock valued at $33,445,000 after buying an additional 3,770 shares during the period. Private Advisor Group LLC boosted its stake in shares of International Paper by 1.9% in the second quarter. Private Advisor Group LLC now owns 40,305 shares of the basic materials company’s stock worth $1,739,000 after buying an additional 757 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in International Paper by 4.8% during the second quarter. Savant Capital LLC now owns 30,295 shares of the basic materials company’s stock worth $1,307,000 after acquiring an additional 1,399 shares during the period. 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.