International Paper (NYSE:IP) Given “Buy” Rating at Truist Financial

International Paper (NYSE:IP)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a report issued on Friday,Benzinga reports. They presently have a $64.00 target price on the basic materials company’s stock, down from their previous target price of $65.00. Truist Financial’s price target would suggest a potential upside of 12.62% from the stock’s previous close.

IP has been the topic of several other research reports. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Royal Bank of Canada boosted their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Trading Down 0.4 %

International Paper stock traded down $0.22 during midday trading on Friday, hitting $56.83. 6,461,252 shares of the stock were exchanged, compared to its average volume of 5,739,779. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $56.13 and its 200 day simple moving average is $51.54. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 48.57 and a beta of 1.03.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 6.49% and a net margin of 2.25%. On average, equities analysts anticipate that International Paper will post 1.07 EPS for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Several institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in International Paper during the third quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the 3rd quarter valued at $28,000. Finally, Versant Capital Management Inc boosted its stake in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.