International Paper (NYSE:IP) Price Target Lowered to $44.00 at Truist Financial

International Paper (NYSE:IP) had its target price cut by Truist Financial from $48.00 to $44.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on IP. Jefferies Financial Group boosted their target price on shares of International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Citigroup lowered their price target on International Paper from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research report on Friday, March 27th. UBS Group reduced their price objective on International Paper from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, Royal Bank Of Canada lowered their target price on International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.98.

International Paper Stock Performance

Shares of IP opened at $36.50 on Wednesday. The company has a 50-day moving average of $40.28 and a two-hundred day moving average of $41.02. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of -5.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. International Paper has a one year low of $33.57 and a one year high of $56.13.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The firm’s revenue was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Anders Gustafsson bought 13,217 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the purchase, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. This trade represents a 102.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew K. Silvernail bought 50,000 shares of the company’s stock in a transaction on Friday, January 30th. The stock was purchased at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the transaction, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 76,092 shares of company stock worth $2,999,064 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Paper

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in International Paper by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock valued at $2,535,058,000 after acquiring an additional 310,834 shares during the last quarter. Capital International Investors raised its holdings in shares of International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after purchasing an additional 14,422,616 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of International Paper by 0.4% during the 4th quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after purchasing an additional 204,654 shares in the last quarter. State Street Corp lifted its stake in shares of International Paper by 1.3% in the 4th quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock valued at $1,182,083,000 after purchasing an additional 397,673 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in International Paper by 81.6% in the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after purchasing an additional 6,663,986 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.