International Paper (NYSE:IP) had its price target dropped by stock analysts at Citigroup from $67.00 to $51.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target points to a potential upside of 19.52% from the stock’s previous close.

IP has been the subject of a number of other reports. Wells Fargo & Co boosted their target price on shares of International Paper from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, July 9th. ValuEngine raised shares of International Paper from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 24th. MED dropped their target price on shares of International Paper from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Monday, June 18th. BMO Capital Markets downgraded shares of International Paper from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $66.00 to $51.00 in a research note on Tuesday. Finally, Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.50.

Shares of IP stock opened at $42.67 on Thursday. International Paper has a 12-month low of $41.87 and a 12-month high of $66.94. The stock has a market cap of $20.10 billion, a P/E ratio of 12.23, a PEG ratio of 0.99 and a beta of 1.54. The company has a quick ratio of 1.13, a current ratio of 1.57 and a debt-to-equity ratio of 1.57.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.10. International Paper had a net margin of 12.95% and a return on equity of 29.24%. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect that International Paper will post 5.21 EPS for the current fiscal year.

International Paper announced that its board has authorized a share buyback program on Tuesday, October 9th that allows the company to buyback $430.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In related news, SVP Sharon R. Ryan sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $52.87, for a total transaction of $793,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $52.53, for a total transaction of $893,010.00. Following the sale, the insider now directly owns 108,538 shares of the company’s stock, valued at $5,701,501.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,725 shares of company stock valued at $2,484,864. 0.32% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in International Paper by 0.5% during the second quarter. BlackRock Inc. now owns 36,790,627 shares of the basic materials company’s stock valued at $1,916,056,000 after purchasing an additional 201,122 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in International Paper by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,715,616 shares of the basic materials company’s stock valued at $141,430,000 after purchasing an additional 73,282 shares during the period. Dimensional Fund Advisors LP grew its holdings in International Paper by 16.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,921,940 shares of the basic materials company’s stock valued at $100,100,000 after purchasing an additional 269,329 shares during the period. Levin Capital Strategies L.P. grew its holdings in International Paper by 66.4% during the second quarter. Levin Capital Strategies L.P. now owns 1,867,499 shares of the basic materials company’s stock valued at $97,259,000 after purchasing an additional 745,170 shares during the period. Finally, Swiss National Bank grew its holdings in International Paper by 3.1% during the second quarter. Swiss National Bank now owns 1,297,818 shares of the basic materials company’s stock valued at $67,590,000 after purchasing an additional 39,200 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for International Paper (NYSE:IP)

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