Barclays Cuts International Paper (IP) Price Target to $44.00

International Paper (NYSE:IP) had its price target reduced by equities researchers at Barclays from $45.00 to $44.00 in a report issued on Monday. The firm presently has an “underweight” rating on the basic materials company’s stock. Barclays’ price target points to a potential downside of 3.04% from the company’s previous close.

IP has been the subject of several other research reports. Goldman Sachs Group cut International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price target for the company. in a research note on Wednesday, October 10th. Royal Bank of Canada restated a “buy” rating and set a $55.00 price target on shares of International Paper in a research note on Tuesday, October 23rd. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Wednesday, August 1st. Seaport Global Securities assumed coverage on International Paper in a research report on Tuesday, October 23rd. They issued a “neutral” rating for the company. Finally, Deutsche Bank set a $55.00 price objective on International Paper and gave the stock a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. International Paper currently has an average rating of “Hold” and an average target price of $58.64.

International Paper stock opened at $45.38 on Monday. International Paper has a 12 month low of $39.60 and a 12 month high of $66.94. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.59 and a quick ratio of 1.13. The company has a market cap of $18.34 billion, a PE ratio of 13.00, a P/E/G ratio of 0.92 and a beta of 1.54.



International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 25th. The basic materials company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.09. International Paper had a return on equity of 29.42% and a net margin of 13.68%. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.90 billion. As a group, sell-side analysts anticipate that International Paper will post 5.15 EPS for the current fiscal year.

International Paper declared that its board has initiated a stock buyback program on Tuesday, October 9th that allows the company to repurchase $430.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other International Paper news, SVP Sharon R. Ryan sold 15,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $52.87, for a total value of $793,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy S. Nicholls sold 17,000 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $52.53, for a total value of $893,010.00. Following the completion of the transaction, the insider now owns 108,538 shares of the company’s stock, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders sold 46,725 shares of company stock valued at $2,484,864 in the last quarter. 0.32% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Grassi Investment Management boosted its stake in shares of International Paper by 0.9% during the second quarter. Grassi Investment Management now owns 105,807 shares of the basic materials company’s stock valued at $5,510,000 after acquiring an additional 962 shares during the last quarter. Pitcairn Co. boosted its stake in shares of International Paper by 8.4% during the second quarter. Pitcairn Co. now owns 12,761 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 993 shares during the last quarter. Townsend & Associates Inc boosted its stake in shares of International Paper by 8.7% during the second quarter. Townsend & Associates Inc now owns 12,407 shares of the basic materials company’s stock valued at $646,000 after acquiring an additional 997 shares during the last quarter. State Treasurer State of Michigan boosted its stake in shares of International Paper by 0.8% during the second quarter. State Treasurer State of Michigan now owns 122,573 shares of the basic materials company’s stock valued at $6,384,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of International Paper by 9.2% during the second quarter. Independent Advisor Alliance now owns 12,113 shares of the basic materials company’s stock valued at $626,000 after acquiring an additional 1,022 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors.

International Paper Company Profile

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.

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