Truist Financial Reaffirms “Buy” Rating for International Paper (NYSE:IP)

Truist Financial restated their buy rating on shares of International Paper (NYSE:IP) in a report released on Wednesday morning, Benzinga reports. They currently have a $40.00 target price on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on IP. Wells Fargo & Company cut their price target on shares of International Paper from $39.00 to $35.00 and set an equal weight rating on the stock in a report on Friday, February 2nd. Argus downgraded International Paper from a buy rating to a hold rating in a report on Monday, February 26th. StockNews.com cut International Paper from a buy rating to a hold rating in a report on Sunday, January 14th. Bank of America upgraded International Paper from an underperform rating to a buy rating and upped their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Finally, Citigroup upgraded shares of International Paper from a neutral rating to a buy rating and lifted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $37.13.

International Paper Price Performance

Shares of NYSE:IP opened at $35.38 on Wednesday. The company’s fifty day moving average is $36.73 and its 200 day moving average is $35.83. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The stock has a market cap of $12.29 billion, a PE ratio of 43.14 and a beta of 0.99.

International Paper (NYSE:IP) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the company posted $0.87 EPS. International Paper’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts anticipate that International Paper will post 1.88 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 8,800 shares of company stock worth $310,438 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new stake in shares of International Paper during the third quarter valued at $25,000. Jones Financial Companies Lllp lifted its stake in International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares during the period. CVA Family Office LLC purchased a new stake in shares of International Paper during the 4th quarter valued at about $27,000. MCF Advisors LLC grew its stake in shares of International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of International Paper during the fourth quarter valued at approximately $27,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.