International Paper’s (IP) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of International Paper (NYSE:IP) in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a $61.00 price target on the basic materials company’s stock, up from their previous price target of $57.00.

A number of other equities analysts have also recently commented on IP. Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Royal Bank of Canada lifted their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.96.

International Paper Trading Up 0.4 %

NYSE IP traded up $0.23 during trading hours on Friday, reaching $55.77. The company had a trading volume of 10,454,784 shares, compared to its average volume of 5,342,824. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.37 billion, a P/E ratio of 45.71 and a beta of 1.04. The stock has a 50-day moving average of $48.48 and a 200 day moving average of $44.92. International Paper has a 1-year low of $31.76 and a 1-year high of $56.26.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that International Paper will post 1.54 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. International Paper’s payout ratio is currently 151.64%.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the transaction, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,440 shares of company stock worth $938,486. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of International Paper during the 2nd quarter worth $26,000. Crewe Advisors LLC purchased a new stake in shares of International Paper in the first quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of International Paper in the second quarter valued at approximately $37,000. Eastern Bank acquired a new stake in shares of International Paper in the third quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of International Paper during the 3rd quarter worth approximately $42,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.