Royal Bank of Canada Issues Positive Forecast for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its target price boosted by stock analysts at Royal Bank of Canada from $56.00 to $64.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 15.27% from the stock’s current price.

A number of other research firms also recently issued reports on IP. Wells Fargo & Company raised their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Stifel Nicolaus initiated coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.96.

International Paper Stock Down 0.0 %

IP traded down $0.02 on Friday, hitting $55.52. 6,143,030 shares of the company were exchanged, compared to its average volume of 5,321,501. 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 company has a market cap of $19.29 billion, a price-to-earnings ratio of 45.74 and a beta of 1.04. The firm has a 50-day moving average price of $48.35 and a two-hundred day moving average price of $44.79. International Paper has a twelve month low of $31.76 and a twelve month high of $56.26.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company 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 7.28% and a net margin of 2.34%. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts predict that International Paper will post 1.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction 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 of the company’s stock, valued at $2,051,457.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the transaction, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $938,486 in the last 90 days. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Paper

Institutional investors have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the last quarter. Retirement Systems of Alabama raised its stake in International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares during the period. Altrius Capital Management Inc boosted its position in International Paper by 0.3% during the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after acquiring an additional 296 shares during the period. 180 Wealth Advisors LLC grew its stake in International Paper by 4.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 327 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of International Paper by 0.7% in the 3rd quarter. Stephens Inc. AR now owns 46,282 shares of the basic materials company’s stock valued at $2,261,000 after purchasing an additional 333 shares during the period. Institutional investors own 81.95% of the company’s stock.

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.