Stifel Nicolaus Cuts International Paper (NYSE:IP) Price Target to $50.70

International Paper (NYSE:IP) had its price target trimmed by Stifel Nicolaus from $51.80 to $50.70 in a research note released on Monday morning,MarketScreener reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also weighed in on IP. Truist Financial reduced their price objective on shares of International Paper from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Citigroup upped their target price on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Argus lowered their price target on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Finally, Wells Fargo & Company raised shares of International Paper from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $36.00 to $40.00 in a report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average target price of $48.25.

International Paper Stock Performance

International Paper stock traded up $0.83 during trading on Monday, hitting $50.02. The stock had a trading volume of 1,472,570 shares, compared to its average volume of 7,771,202. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $41.27 and its two-hundred day moving average is $43.63. International Paper has a 1 year low of $35.56 and a 1 year high of $57.55. The stock has a market cap of $26.41 billion, a price-to-earnings ratio of -7.45 and a beta of 1.11.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. International Paper’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, analysts predict that International Paper will post 2.77 EPS for the current year.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the purchase, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently bought and sold shares of IP. Dynamic Technology Lab Private Ltd purchased a new stake in International Paper during the 1st quarter worth about $249,000. Intech Investment Management LLC raised its position in International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after purchasing an additional 16,055 shares in the last quarter. Blue Trust Inc. lifted its stake in International Paper by 10.1% during the second quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 259 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of International Paper by 0.5% during the 2nd quarter. Aberdeen Group plc now owns 165,295 shares of the basic materials company’s stock valued at $7,741,000 after buying an additional 793 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in International Paper by 6.4% in the second quarter. Apollon Wealth Management LLC now owns 6,744 shares of the basic materials company’s stock worth $316,000 after buying an additional 407 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

About International Paper

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.