International Paper (NYSE:IP) Given Consensus Rating of “Moderate Buy” by Brokerages

International Paper (NYSE:IP) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.13.

Several analysts recently issued reports on the stock. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Truist Financial reiterated a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th.

International Paper Trading Down 1.0 %

IP opened at $34.41 on Friday. The stock has a market capitalization of $11.95 billion, a PE ratio of 41.96 and a beta of 0.99. The firm’s fifty day moving average price is $36.72 and its 200 day moving average price is $35.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. As a group, research analysts expect that International Paper will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is owned by insiders.

Institutional Trading of International Paper

Hedge funds have recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new stake in International Paper during the third quarter valued at about $1,164,000. StrategIQ Financial Group LLC acquired a new position in shares of International Paper in the 4th quarter valued at about $2,271,000. Metis Global Partners LLC increased its holdings in shares of International Paper by 6.7% in the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock valued at $774,000 after purchasing an additional 1,376 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of International Paper by 40.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after purchasing an additional 6,033 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of International Paper by 263.1% in the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock valued at $4,151,000 after purchasing an additional 83,203 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.