Royal Bank Of Canada Issues Positive Forecast for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its price target raised by investment analysts at Royal Bank Of Canada from $45.00 to $48.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 27.86% from the stock’s previous close.

Several other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of International Paper from $43.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Citigroup upped their price objective on shares of International Paper from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings lowered International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. UBS Group lowered their price target on International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Truist Financial boosted their price objective on International Paper from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $44.31.

International Paper Trading Down 0.9%

NYSE IP traded down $0.33 during trading hours on Friday, hitting $37.54. The company’s stock had a trading volume of 1,239,037 shares, compared to its average volume of 6,792,945. The stock has a fifty day moving average of $34.95 and a 200 day moving average of $38.05. International Paper has a twelve month low of $29.26 and a twelve month high of $56.13. The firm has a market capitalization of $19.88 billion, a P/E ratio of -5.89 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. Equities research analysts forecast that International Paper will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Scott Tozier acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $31.30 per share, with a total value of $313,000.00. Following the acquisition, the director owned 10,025 shares in the company, valued at $313,782.50. This represents a 40,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Several hedge funds have recently bought and sold shares of IP. McIlrath & Eck LLC lifted its position in shares of 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 buying an additional 525 shares during the last quarter. MV Capital Management Inc. acquired a new stake in International Paper during the fourth quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new position in International Paper in the 1st quarter valued at $28,000. DV Equities LLC bought a new position in International Paper during the 4th quarter worth $29,000. Finally, Sound Income Strategies LLC increased its position in International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after buying an additional 344 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.