International Paper’s (IP) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of International Paper (NYSE:IP) in a research note released on Friday morning,Benzinga reports. The firm currently has a $64.00 price target on the basic materials company’s stock.

Several other brokerages have also recently issued reports on IP. Truist Financial restated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a research report on Friday. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

International Paper Trading Down 2.5 %

Shares of IP stock opened at $55.65 on Friday. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock’s fifty day simple moving average is $56.06 and its 200 day simple moving average is $51.62. 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 firm has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 6.49% and a net margin of 2.25%. As a group, sell-side analysts predict that International Paper will post 1.07 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. International Paper’s payout ratio is currently 158.12%.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in International Paper in the third quarter worth approximately $25,000. Sierra Ocean LLC bought a new position in shares of International Paper in the 4th quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in International Paper in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in International Paper during the 3rd quarter valued at $28,000. Finally, Versant Capital Management Inc raised its holdings in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the last quarter. Institutional investors and hedge funds 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.