International Paper’s (IP) Buy Rating Reiterated at Argus

International Paper (NYSE:IP)‘s stock had its “buy” rating reissued by investment analysts at Argus in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $45.00 target price on the basic materials company’s stock. Argus’ target price would suggest a potential upside of 28.05% from the stock’s current price.

IP has been the subject of several other reports. UBS Group upped their price target on shares of International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Loop Capital set a $61.00 price target on shares of International Paper in a research report on Tuesday, July 28th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Friday, September 11th. Royal Bank Of Canada upped their price target on shares of International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company upped their price target on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.82.

International Paper Price Performance

NYSE:IP traded down $0.56 on Thursday, hitting $35.14. The company had a trading volume of 1,161,889 shares, compared to its average volume of 6,299,089. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of -5.39, a PEG ratio of 4.49 and a beta of 0.93. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $38.82 and a two-hundred day moving average of $36.46. International Paper has a 52 week low of $29.26 and a 52 week high of $50.25.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was down 11.3% on a year-over-year basis. On average, research analysts anticipate that International Paper will post 1.33 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Hamic sold 24,500 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of large investors have recently bought and sold shares of IP. State Street Corp grew its holdings in International Paper by 7.1% in the second quarter. State Street Corp now owns 32,999,909 shares of the basic materials company’s stock worth $1,257,297,000 after purchasing an additional 2,189,597 shares during the period. Anchor Investment Management LLC grew its holdings in International Paper by 59.3% in the second quarter. Anchor Investment Management LLC now owns 1,437 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 535 shares during the period. The Manufacturers Life Insurance Company grew its holdings in International Paper by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock worth $44,478,000 after purchasing an additional 389,092 shares during the period. Sequoia Financial Advisors LLC grew its holdings in International Paper by 21.7% in the second quarter. Sequoia Financial Advisors LLC now owns 22,358 shares of the basic materials company’s stock worth $852,000 after purchasing an additional 3,988 shares during the period. Finally, Tidal Investments LLC grew its holdings in International Paper by 87.7% in the second quarter. Tidal Investments LLC now owns 60,427 shares of the basic materials company’s stock worth $2,302,000 after purchasing an additional 28,236 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

About International Paper

International Paper Company (NYSE: IP) is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.