Truist Financial Issues Positive Forecast for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its target price increased by Truist Financial from $61.00 to $65.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

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

International Paper Stock Up 1.0 %

Shares of NYSE:IP opened at $53.40 on Monday. The stock’s 50-day moving average is $56.03 and its 200 day moving average is $50.04. The company has a market cap of $18.55 billion, a PE ratio of 45.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion for 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%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Sell-side analysts anticipate that International Paper will post 1.18 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a $0.4625 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.46%. International Paper’s payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 2,400 shares of company stock worth $129,696. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IP. First Horizon Advisors Inc. raised its position 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 valued at $160,000 after purchasing an additional 177 shares during the period. Empirical Finance LLC increased its position in shares of 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 holdings in International Paper by 20.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares during the period. Altrius Capital Management Inc lifted its position 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 buying an additional 296 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in 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 worth $284,000 after buying an additional 314 shares during the period. 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.