Truist Financial Increases International Paper (NYSE:IP) Price Target to $57.00

International Paper (NYSE:IP) had its target price increased by analysts at Truist Financial from $55.00 to $57.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s target price would suggest a potential upside of 18.80% from the stock’s current price.

IP has been the topic of a number of other research reports. Royal Bank of Canada lifted their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company lifted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.46.

International Paper Stock Performance

NYSE:IP opened at $47.98 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The stock’s 50 day simple moving average is $47.86 and its two-hundred day simple moving average is $44.05. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 97.92 and a beta of 1.04.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that International Paper will post 1.55 earnings per share for the current fiscal year.

Insider Activity at International Paper

In related news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares in the company, valued at $792,729.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the sale, the director now directly owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $934,142 in the last quarter. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of IP. Wellington Management Group LLP raised its position in International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares in the last quarter. SageView Advisory Group LLC lifted its stake in shares of International Paper by 9.4% during the 4th quarter. SageView Advisory Group LLC now owns 22,688 shares of the basic materials company’s stock worth $824,000 after purchasing an additional 1,944 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of International Paper during the 4th quarter worth $178,000. Los Angeles Capital Management LLC purchased a new stake in shares of International Paper during the 1st quarter worth $1,312,000. Finally, Tompkins Financial Corp lifted its stake in shares of International Paper by 148.1% during the 1st quarter. Tompkins Financial Corp now owns 3,350 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 2,000 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

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.