International Paper (NYSE:IP) Earns Outperform Rating from Royal Bank of Canada

International Paper (NYSE:IP)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $64.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.75% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

IP stock opened at $54.82 on Wednesday. The firm has a market cap of $28.84 billion, a P/E ratio of 34.92, a P/E/G ratio of 0.39 and a beta of 1.02. The firm’s fifty day moving average is $54.93 and its 200 day moving average is $53.63. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Research analysts predict that International Paper will post 2.77 earnings per share for the current year.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently modified their holdings of the business. Total Wealth Planning & Management Inc. bought a new stake in International Paper during the fourth quarter worth about $403,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of International Paper in the 4th quarter worth approximately $9,950,000. Bernard Wealth Management Corp. bought a new stake in shares of International Paper in the 4th quarter worth approximately $37,000. Yoffe Investment Management LLC purchased a new stake in shares of International Paper in the 4th quarter worth approximately $378,000. Finally, LifeWealth Investments LLC bought a new position in International Paper during the 4th quarter valued at approximately $432,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

About International Paper

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.