Jefferies Financial Group Boosts International Paper (NYSE:IP) Price Target to $48.00

International Paper (NYSE:IP) had its price target raised by Jefferies Financial Group from $47.00 to $48.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 16.14% from the company’s previous close.

Several other analysts also recently weighed in on the company. UBS Group dropped their price target on International Paper from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. Wells Fargo & Company cut their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Royal Bank Of Canada set a $55.00 price target on International Paper and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.07.

International Paper Stock Down 1.2%

International Paper stock traded down $0.51 during midday trading on Thursday, reaching $41.33. The company’s stock had a trading volume of 327,608 shares, compared to its average volume of 5,093,127. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. The stock has a market capitalization of $21.82 billion, a P/E ratio of -15.84, a PEG ratio of 0.48 and a beta of 1.10. The stock’s 50-day simple moving average is $39.66 and its 200-day simple moving average is $44.50. International Paper has a 52-week low of $35.56 and a 52-week high of $60.15.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business’s revenue was up 56.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. On average, sell-side analysts expect that International Paper will post 2.77 EPS for the current year.

Insider Buying and Selling at International Paper

In related news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IP. AlphaQuest LLC raised its position in International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares during the period. Sound Income Strategies LLC raised its position in shares of International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in International Paper in the 2nd quarter valued at about $33,000. Elevation Point Wealth Partners LLC acquired a new stake in International Paper in the 2nd quarter worth about $35,000. Finally, Kelleher Financial Advisors purchased a new stake in International Paper during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.