Truist Financial Forecasts Strong Price Appreciation for International Paper (NYSE:IP) Stock

International Paper (NYSE:IP) had its price target boosted by equities researchers at Truist Financial from $61.00 to $65.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s price target points to a potential upside of 21.29% from the stock’s current price.

IP has been the topic of a number of other research reports. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $51.99.

International Paper Stock Up 0.2 %

Shares of International Paper stock opened at $53.59 on Monday. The company’s 50 day moving average is $56.16 and its 200 day moving average is $50.10. The company has a market cap of $18.62 billion, a price-to-earnings ratio of 45.80 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Research analysts anticipate that International Paper will post 1.18 EPS for the current year.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 2,400 shares of company stock valued at $129,696. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares during the period. Empirical Finance LLC grew its holdings in International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 239 shares during the period. Altrius Capital Management Inc lifted its stake in International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in shares of International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock valued at $284,000 after buying an additional 314 shares during the period. 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.