International Paper (NYSE:IP) Price Target Raised to $62.00 at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $61.00 to $62.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 73.47% from the stock’s previous close.

A number of other equities research analysts have also weighed in on IP. Citigroup boosted their price objective on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada lifted their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wells Fargo & Company boosted their price target on shares of International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Finally, UBS Group lifted their price objective on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $49.21.

International Paper Price Performance

Shares of International Paper stock opened at $35.74 on Wednesday. The firm has a market capitalization of $18.93 billion, a PE ratio of -5.48, a price-to-earnings-growth ratio of 4.44 and a beta of 0.93. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. International Paper has a 12 month low of $29.26 and a 12 month high of $50.25. The business’s 50-day moving average price is $38.84 and its 200-day moving average price is $36.50.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the firm earned $0.20 earnings per share. International Paper’s revenue for the quarter was down 11.3% on a year-over-year basis. Sell-side analysts forecast that International Paper will post 1.33 EPS for the current fiscal year.

Insider Activity at International Paper

In other International Paper news, VP William Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently made changes to their positions in IP. MCF Advisors LLC boosted its stake in shares of International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after buying an additional 229 shares during the period. Rothschild Investment LLC increased its stake in shares of International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 242 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of International Paper by 1.3% during the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock worth $853,000 after acquiring an additional 298 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of International Paper by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company’s stock worth $523,000 after acquiring an additional 302 shares in the last quarter. Finally, Ranch Capital Advisors Inc. boosted its position in International Paper by 0.8% during the first quarter. Ranch Capital Advisors Inc. now owns 45,785 shares of the basic materials company’s stock valued at $1,635,000 after purchasing an additional 364 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper Company (NYSE: IP) is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.