Stifel Nicolaus Cuts International Paper (NYSE:IP) Price Target to $50.70

International Paper (NYSE:IP) had its target price dropped by research analysts at Stifel Nicolaus from $51.80 to $50.70 in a report released on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 1.04% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Truist Financial decreased their price objective on International Paper from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. BNP Paribas Exane upgraded International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, November 24th. Finally, Citigroup increased their target price on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.25.

International Paper Stock Performance

IP traded up $0.99 during trading on Monday, reaching $50.18. The company’s stock had a trading volume of 415,435 shares, compared to its average volume of 7,745,805. The company’s fifty day moving average price is $41.27 and its 200-day moving average price is $43.63. International Paper has a 52-week low of $35.56 and a 52-week high of $57.55. The company has a market capitalization of $26.50 billion, a price-to-earnings ratio of -7.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36). The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The firm’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same period last year, the company earned ($0.02) EPS. On average, equities analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the purchase, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.35% of the stock is owned by company insiders.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of International Paper during the 1st quarter valued at approximately $249,000. Intech Investment Management LLC grew its holdings in shares of International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after purchasing an additional 16,055 shares during the last quarter. Blue Trust Inc. lifted its position in International Paper by 10.1% in the second quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 259 shares during the last quarter. Aberdeen Group plc raised its position in International Paper by 0.5% during the 2nd quarter. Aberdeen Group plc now owns 165,295 shares of the basic materials company’s stock valued at $7,741,000 after purchasing an additional 793 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in shares of International Paper by 6.4% during the 2nd quarter. Apollon Wealth Management LLC now owns 6,744 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 407 shares in the last quarter. 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.