Royal Bank Of Canada Lowers International Paper (NYSE:IP) Price Target to $48.00

International Paper (NYSE:IP) had its target price lowered by equities research analysts at Royal Bank Of Canada from $54.00 to $48.00 in a research report issued on Thursday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 29.22% from the stock’s previous close.

A number of other equities analysts have also weighed in on IP. Jefferies Financial Group increased their price target on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Citigroup reduced their price objective on International Paper from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Truist Financial cut their price target on International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company cut their price objective on International Paper from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, March 20th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.48.

International Paper Price Performance

Shares of IP opened at $37.15 on Thursday. The stock’s fifty day moving average is $39.93 and its 200-day moving average is $40.92. International Paper has a one year low of $33.57 and a one year high of $56.13. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of -5.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 53.1% compared to the same quarter last year. Equities analysts anticipate that International Paper will post 2.77 EPS for the current year.

Insider Activity at International Paper

In other news, CEO Andrew K. Silvernail acquired 50,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were bought at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the acquisition, the chief executive officer owned 50,000 shares of the company’s stock, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anders Gustafsson acquired 13,217 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the acquisition, the director directly owned 26,092 shares in the company, valued at $987,060.36. This represents a 102.66% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 76,092 shares of company stock worth $2,999,064 in the last three months. 0.21% of the stock is owned by insiders.

Institutional Trading of International Paper

Several institutional investors have recently bought and sold shares of IP. Dynamic Technology Lab Private Ltd acquired a new stake in International Paper in the 1st quarter valued at $249,000. Intech Investment Management LLC boosted its stake in International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after buying an additional 16,055 shares in the last quarter. Cresset Asset Management LLC boosted its stake in International Paper by 20.8% in the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after buying an additional 2,981 shares in the last quarter. Jump Financial LLC boosted its stake in International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in International Paper by 8.0% in the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock valued at $1,580,000 after buying an additional 2,493 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

About International Paper

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.