International Paper (NYSE:IP) Given New $46.00 Price Target at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its price target dropped by analysts at JPMorgan Chase & Co. from $48.00 to $46.00 in a report issued on Thursday,MarketScreener reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 33.69% from the company’s previous close.

IP has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a report on Wednesday. They issued a “hold” rating and a $38.00 target price on the stock. Stifel Nicolaus decreased their price objective on shares of International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research report on Monday, February 9th. BNP Paribas Exane lowered their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Argus dropped their target price on shares of International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Finally, Wells Fargo & Company decreased their price target on shares of International Paper from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.89.

International Paper Stock Performance

NYSE IP opened at $34.41 on Thursday. The company has a 50-day simple moving average of $41.47 and a two-hundred day simple moving average of $41.74. International Paper has a 12-month low of $33.57 and a 12-month high of $56.13. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of -5.09 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the firm posted ($0.02) EPS. The company’s revenue was up 53.1% on a year-over-year basis. On average, equities analysts forecast that International Paper will post 2.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the purchase, the director owned 26,092 shares in the company, valued at approximately $987,060.36. This represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction dated Friday, January 30th. The shares were purchased at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 76,092 shares of company stock worth $2,999,064. 0.35% of the stock is owned by insiders.

Institutional Trading of International Paper

Several large investors have recently modified their holdings of IP. McIlrath & Eck LLC lifted its holdings in International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 525 shares during the period. MV Capital Management Inc. purchased a new stake in shares of International Paper during the 4th quarter valued at about $25,000. DV Equities LLC purchased a new stake in shares of International Paper during the 4th quarter valued at about $29,000. Sound Income Strategies LLC lifted its stake in shares of International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares during the period. Finally, Summit Securities Group LLC boosted its holdings in shares of International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock worth $31,000 after buying an additional 5,875 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

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.