International Paper (NYSE:IP) Price Target Cut to $41.00 by Analysts at Citigroup

International Paper (NYSE:IP) had its price target decreased by stock analysts at Citigroup from $47.00 to $41.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup‘s price target points to a potential upside of 12.64% from the company’s current price.

IP has been the topic of several other research reports. Bank of America reiterated a “buy” rating on shares of International Paper in a research report on Thursday. Seaport Research Partners reaffirmed a “buy” rating and issued a $46.00 price target on shares of International Paper in a research note on Wednesday, August 12th. UBS Group lowered their price objective on International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Finally, Argus reissued a “buy” rating and set a $45.00 target price on shares of International Paper in a report on Thursday, September 24th. Ten investment 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.44.

International Paper Price Performance

Shares of IP stock traded up $0.37 during trading hours on Friday, hitting $36.40. 7,106,536 shares of the company’s stock were exchanged, compared to its average volume of 6,257,439. The firm has a 50 day moving average of $35.04 and a two-hundred day moving average of $37.46. International Paper has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The firm has a market cap of $19.28 billion, a P/E ratio of -5.55, a P/E/G ratio of 4.56 and a beta of 0.93. The company has a quick ratio of 0.84, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.28 billion. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) EPS. Sell-side analysts forecast that International Paper will post 1.26 EPS for the current year.

Insider Activity

In other news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP William Hamic sold 24,500 shares of the business’s stock in a transaction dated 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 transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Provenance Wealth Advisors LLC acquired a new stake in shares of International Paper in the third quarter valued at approximately $38,000. TrinityBridge Ltd acquired a new position in International Paper during the third quarter worth $994,000. Oregon Public Employees Retirement Fund purchased a new stake in International Paper in the 3rd quarter valued at $2,159,000. First Nebraska Trust Co purchased a new stake in International Paper in the 3rd quarter valued at $2,363,000. Finally, Garner Asset Management Corp acquired a new stake in shares of International Paper in the 3rd quarter worth $913,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.