Truist Financial Issues Positive Forecast for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its price target upped by Truist Financial from $61.00 to $65.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

A number of other equities analysts have also weighed in on IP. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.99.

International Paper Trading Up 2.1 %

NYSE:IP opened at $54.74 on Monday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of 46.79 and a beta of 1.03. The firm has a fifty day simple moving average of $56.27 and a two-hundred day simple moving average of $50.13.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Friday, November 15th. International Paper’s payout ratio is 158.12%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the sale, the director now directly owns 38,945 shares in the company, valued at $1,872,475.60. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 2,400 shares of company stock worth $129,696 in the last 90 days. Insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

A number of large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in shares of International Paper by 1.8% during the 4th quarter. Nordea Investment Management AB now owns 270,044 shares of the basic materials company’s stock valued at $14,539,000 after acquiring an additional 4,695 shares during the period. Everence Capital Management Inc. bought a new position in International Paper during the fourth quarter valued at $828,000. GAMMA Investing LLC grew its holdings in International Paper by 71.6% during the fourth quarter. GAMMA Investing LLC now owns 5,098 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 2,127 shares during the period. Versant Capital Management Inc increased its position in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of International Paper by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company’s stock valued at $20,412,000 after buying an additional 10,632 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.