Argus Reaffirms “Buy” Rating for International Paper (NYSE:IP)

International Paper (NYSE:IP)‘s stock had its “buy” rating restated by research analysts at Argus in a report issued on Thursday, Benzinga reports. They currently have a $45.00 price objective on the basic materials company’s stock. Argus’ price target would suggest a potential upside of 29.43% from the stock’s current price.

A number of other equities analysts have also weighed in on IP. Citigroup lifted their price target on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings upgraded International Paper from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Truist Financial reissued a “buy” rating and set a $49.00 price target (up from $46.00) on shares of International Paper in a research report on Friday, July 31st. Wells Fargo & Company raised their price objective on International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on International Paper from $61.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.82.

International Paper Trading Down 2.6%

NYSE:IP traded down $0.93 during mid-day trading on Thursday, reaching $34.77. The company’s stock had a trading volume of 654,111 shares, compared to its average volume of 6,296,636. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The stock has a market cap of $18.41 billion, a P/E ratio of -5.33, a P/E/G ratio of 4.49 and a beta of 0.93. The company’s fifty day simple moving average is $38.82 and its two-hundred day simple moving average is $36.46. International Paper has a twelve month low of $29.26 and a twelve month high of $50.25.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the company posted $0.20 EPS. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 1.33 EPS for the current year.

Insider Activity at International Paper

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

Hedge Funds Weigh In On International Paper

A number of large investors have recently bought and sold shares of IP. MCF Advisors LLC raised its holdings in International Paper by 36.7% in the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares during the period. Rothschild Investment LLC boosted its holdings in shares of International Paper by 4.2% during 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 period. Stephens Inc. AR boosted 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 during the period. Rockefeller Capital Management L.P. grew its position in shares of International Paper by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company’s stock valued at $523,000 after purchasing an additional 302 shares during the last quarter. Finally, Ranch Capital Advisors Inc. increased its stake in shares of 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 worth $1,635,000 after purchasing an additional 364 shares during the period. 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.