Truist Financial Reiterates Buy Rating for International Paper (NYSE:IP)

International Paper (NYSE:IP)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a research note issued to investors on Friday,Benzinga reports. They currently have a $64.00 price target on the basic materials company’s stock, down from their previous price target of $65.00. Truist Financial’s price target would suggest a potential upside of 12.62% from the company’s current price.

A number of other equities analysts also recently issued reports on IP. Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Stock Performance

NYSE:IP traded down $0.22 during mid-day trading on Friday, reaching $56.83. The stock had a trading volume of 6,461,252 shares, compared to its average volume of 5,739,779. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The business has a 50 day simple moving average of $56.13 and a 200 day simple moving average of $51.54. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 48.57 and a beta of 1.03.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. On average, analysts expect that International Paper will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new stake in shares of International Paper in the third quarter worth approximately $24,327,000. Aptus Capital Advisors LLC boosted its holdings in shares of International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 785 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of International Paper during the 4th quarter valued at $376,000. Curi RMB Capital LLC purchased a new position in shares of International Paper in the 3rd quarter worth $4,870,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in International Paper by 5.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock valued at $45,788,000 after acquiring an additional 49,125 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

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.