International Paper (IP) Given New $55.00 Price Target at Barclays
International Paper (NYSE:IP) had its target price boosted by investment analysts at Barclays from $52.00 to $55.00 in a note issued to investors on Monday. The brokerage currently has an “underweight” rating on the basic materials company’s stock. Barclays’ price objective indicates a potential downside of 5.22% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Bank of America lifted their price objective on shares of International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Royal Bank of Canada restated a “buy” rating and set a $65.00 target price on shares of International Paper in a research report on Monday, October 23rd. ValuEngine upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Tuesday, February 6th. Finally, KeyCorp restated a “hold” rating on shares of International Paper in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.00.
Shares of International Paper (NYSE IP) opened at $58.03 on Monday. International Paper has a one year low of $49.60 and a one year high of $66.94. The company has a current ratio of 1.62, a quick ratio of 1.17 and a debt-to-equity ratio of 1.75. The company has a market cap of $23,960.00, a price-to-earnings ratio of 11.49, a PEG ratio of 1.25 and a beta of 1.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in International Paper in the fourth quarter valued at $21,131,000. Moors & Cabot Inc. increased its holdings in International Paper by 3.9% in the fourth quarter. Moors & Cabot Inc. now owns 60,736 shares of the basic materials company’s stock valued at $3,516,000 after buying an additional 2,285 shares in the last quarter. Koch Industries Inc. purchased a new position in International Paper in the fourth quarter valued at $450,000. ETRADE Capital Management LLC increased its holdings in International Paper by 26.5% in the fourth quarter. ETRADE Capital Management LLC now owns 36,424 shares of the basic materials company’s stock valued at $2,110,000 after buying an additional 7,641 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in International Paper by 10.0% in the fourth quarter. Annex Advisory Services LLC now owns 19,971 shares of the basic materials company’s stock valued at $1,157,000 after buying an additional 1,816 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.
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International Paper Company Profile
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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