International Paper (NYSE:IP) Now Covered by Analysts at Citigroup

Equities researchers at Citigroup began coverage on shares of International Paper (NYSE:IP) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $60.00 price target on the basic materials company’s stock. Citigroup’s target price indicates a potential upside of 15.85% from the stock’s current price.

Several other research analysts have also weighed in on IP. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.86.

International Paper Price Performance

International Paper stock opened at $51.79 on Wednesday. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The firm has a fifty day moving average of $55.53 and a 200-day moving average of $53.19. The firm has a market capitalization of $27.25 billion, a P/E ratio of 32.99, a PEG ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, analysts predict that International Paper will post 2.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IP. Farther Finance Advisors LLC boosted its holdings in shares of International Paper by 101.9% during the third quarter. Farther Finance Advisors LLC now owns 6,857 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 3,461 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in International Paper by 435.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 118,364 shares of the basic materials company’s stock valued at $5,782,000 after acquiring an additional 96,264 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in International Paper in the third quarter valued at approximately $79,000. American Capital Advisory LLC lifted its stake in International Paper by 12.9% in the third quarter. American Capital Advisory LLC now owns 8,738 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Graypoint LLC acquired a new stake in International Paper in the third quarter valued at approximately $205,000. 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.