International Paper (NYSE:IP) Given New $50.70 Price Target at Stifel Nicolaus

International Paper (NYSE:IP) had its target price trimmed by Stifel Nicolaus from $51.80 to $50.70 in a report issued on Monday morning,MarketScreener reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other research analysts have also issued reports on the stock. UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $51.00 to $44.00 in a report on Monday, February 2nd. Royal Bank Of Canada dropped their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Truist Financial cut their target price on International Paper from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on International Paper from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.25.

International Paper Trading Up 1.5%

Shares of NYSE:IP traded up $0.76 during mid-day trading on Monday, reaching $49.95. 1,035,183 shares of the company’s stock were exchanged, compared to its average volume of 7,743,143. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. International Paper has a twelve month low of $35.56 and a twelve month high of $57.55. The firm has a market capitalization of $26.38 billion, a price-to-earnings ratio of -7.44 and a beta of 1.11. The business’s fifty day moving average price is $41.27 and its 200-day moving average price is $43.63.

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

Insider Transactions at International Paper

In related news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew K. Silvernail acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the purchase, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IP. Dynamic Technology Lab Private Ltd bought a new position in shares of International Paper in the first quarter worth $249,000. Intech Investment Management LLC lifted its holdings in International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after purchasing an additional 16,055 shares in the last quarter. Blue Trust Inc. boosted its stake in International Paper by 10.1% in the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 259 shares during the period. Aberdeen Group plc grew its holdings in International Paper by 0.5% during the 2nd quarter. Aberdeen Group plc now owns 165,295 shares of the basic materials company’s stock valued at $7,741,000 after buying an additional 793 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of International Paper by 6.4% during the second quarter. Apollon Wealth Management LLC now owns 6,744 shares of the basic materials company’s stock valued at $316,000 after buying an additional 407 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

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.