Royal Bank Of Canada Increases International Paper (NYSE:IP) Price Target to $48.00

International Paper (NYSE:IP) had its price objective upped by analysts at Royal Bank Of Canada from $45.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 27.86% from the stock’s previous close.

IP has been the topic of several other reports. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target for the company. Citigroup boosted their price target on International Paper from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Wells Fargo & Company upped their price objective on International Paper from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, UBS Group cut their target price on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average target price of $44.31.

International Paper Price Performance

Shares of NYSE:IP traded down $0.33 during trading on Friday, reaching $37.54. 1,239,037 shares of the company traded hands, compared to its average volume of 6,792,945. The firm has a market capitalization of $19.88 billion, a PE ratio of -5.89 and a beta of 0.94. International Paper has a 52 week low of $29.26 and a 52 week high of $56.13. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $34.95 and its two-hundred day moving average is $38.05.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, sell-side analysts predict that International Paper will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Scott Tozier bought 10,000 shares of International Paper stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Trading of International Paper

A number of large investors have recently added to or reduced their stakes in IP. McIlrath & Eck LLC raised its holdings in shares of International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares during the period. MV Capital Management Inc. bought a new position in International Paper in the 4th quarter worth about $25,000. Ascentis Independent Advisors bought a new stake in International Paper during the 1st quarter worth approximately $28,000. DV Equities LLC purchased a new position in International Paper in the 4th quarter worth approximately $29,000. Finally, Sound Income Strategies LLC grew its position in International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 344 shares during the last quarter. 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.