International Paper (NYSE:IP) Price Target Raised to $48.00

International Paper (NYSE:IPFree Report) had its target price boosted by Royal Bank Of Canada from $45.00 to $48.00 in a research report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.

IP has been the topic of several other reports. Wells Fargo & Company lifted their target price on International Paper from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on International Paper from $43.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup raised their price target on International Paper from $36.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, UBS Group decreased their price objective on International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.31.

View Our Latest Research Report on IP

International Paper Stock Performance

IP opened at $37.53 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The stock has a market capitalization of $19.87 billion, a price-to-earnings ratio of -5.90 and a beta of 0.94. The company has a fifty day moving average of $35.04 and a 200 day moving average of $38.03. International Paper has a fifty-two week low of $29.26 and a fifty-two week high of $56.13.

International Paper (NYSE:IPGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that International Paper will post 1.39 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.9%. International Paper’s payout ratio is currently -29.09%.

Insider Buying and Selling

In other news, Director Scott Tozier purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.

Institutional Trading of International Paper

Several institutional investors have recently added to or reduced their stakes in IP. McIlrath & Eck LLC raised its holdings in shares of International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares during the period. MV Capital Management Inc. purchased a new stake in International Paper in the fourth quarter worth $25,000. Ascentis Independent Advisors bought a new stake in shares of International Paper during the first quarter worth $28,000. DV Equities LLC bought a new stake in shares of International Paper during the fourth quarter worth $29,000. Finally, Sound Income Strategies LLC boosted its stake in shares of International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 344 shares during the period. Institutional investors own 81.95% of the company’s stock.

More International Paper News

Here are the key news stories impacting International Paper this week:

About International Paper

(Get Free Report)

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.

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Analyst Recommendations for International Paper (NYSE:IP)

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