International Paper (IP) Price Target Cut to $64.00

International Paper (NYSE:IP) had its target price dropped by equities research analysts at MED from $65.00 to $64.00 in a research report issued on Monday. The brokerage currently has a “hold” rating on the basic materials company’s stock. MED’s price objective indicates a potential upside of 16.83% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, April 9th. ValuEngine cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Wells Fargo & Co cut shares of International Paper from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Wednesday, March 7th. BMO Capital Markets cut shares of International Paper from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 7th. Finally, UBS Group initiated coverage on shares of International Paper in a research note on Thursday, March 29th. They issued a “buy” rating and a $63.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $65.71.

Shares of IP stock opened at $54.78 on Monday. The company has a market cap of $22.95 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.53. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.17 and a current ratio of 1.63. International Paper has a 12 month low of $50.00 and a 12 month high of $66.94.



International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.05. The company had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.48 billion. International Paper had a net margin of 11.57% and a return on equity of 28.21%. International Paper’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. research analysts forecast that International Paper will post 5.08 EPS for the current year.

In related news, insider Carleton C. Ealy sold 22,000 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $56.79, for a total transaction of $1,249,380.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider W. Michael Jr. Amick sold 10,930 shares of the stock in a transaction on Monday, June 18th. The shares were sold at an average price of $55.86, for a total transaction of $610,549.80. Following the transaction, the insider now directly owns 29,844 shares in the company, valued at approximately $1,667,085.84. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IP. Advisory Services Network LLC grew its holdings in shares of International Paper by 205.9% during the 4th quarter. Advisory Services Network LLC now owns 7,482 shares of the basic materials company’s stock valued at $433,000 after purchasing an additional 5,036 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of International Paper by 2.7% during the 4th quarter. State of Wisconsin Investment Board now owns 389,058 shares of the basic materials company’s stock valued at $22,542,000 after purchasing an additional 10,052 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of International Paper by 5.7% during the 4th quarter. Arizona State Retirement System now owns 130,731 shares of the basic materials company’s stock valued at $7,575,000 after purchasing an additional 7,086 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of International Paper by 2.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 97,477 shares of the basic materials company’s stock valued at $5,648,000 after purchasing an additional 2,058 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of International Paper by 0.5% during the 4th quarter. Rhumbline Advisers now owns 778,071 shares of the basic materials company’s stock valued at $45,081,000 after purchasing an additional 3,993 shares during the last quarter. 82.02% of the stock is currently owned by institutional investors.

About International Paper

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Analyst Recommendations for International Paper (NYSE:IP)

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