International Paper (NYSE:IP) Given “Buy” Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of International Paper (NYSE:IP) in a research report sent to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a $40.00 price objective on the basic materials company’s stock.

IP has been the subject of a number of other research reports. StockNews.com downgraded shares of International Paper from a buy rating to a hold rating in a research note on Sunday, January 14th. Wells Fargo & Company cut their target price on International Paper from $39.00 to $35.00 and set an equal weight rating on the stock in a research note on Friday, February 2nd. Bank of America raised shares of International Paper from an underperform rating to a buy rating and increased their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Argus lowered shares of International Paper from a buy rating to a hold rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada restated an outperform rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, International Paper currently has a consensus rating of Hold and a consensus price target of $37.13.

International Paper Stock Up 0.3 %

Shares of NYSE:IP opened at $35.38 on Wednesday. The business’s 50 day moving average is $36.73 and its 200 day moving average is $35.83. The stock has a market cap of $12.29 billion, a P/E ratio of 43.14 and a beta of 0.99. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28. 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 (NYSE:IP) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts predict that International Paper will post 1.88 EPS for the current year.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction dated Wednesday, February 28th. The stock was 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 owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 8,800 shares of company stock valued at $310,438 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

Several institutional investors and hedge funds have recently bought and sold shares of IP. BlackRock Inc. grew its position in International Paper by 4.0% during the 1st quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after purchasing an additional 1,436,757 shares during the period. State Street Corp grew its holdings in International Paper by 0.9% during the first quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock worth $1,124,403,000 after acquiring an additional 218,754 shares during the period. Franklin Resources Inc. raised its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after acquiring an additional 4,960,005 shares in the last quarter. Greenhaven Associates Inc. raised its position in International Paper by 0.3% during the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after acquiring an additional 25,640 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after acquiring an additional 35,930 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.