Deutsche Bank Aktiengesellschaft Initiates Coverage on International Paper (NYSE:IP)

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper (NYSE:IP) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating and a $38.00 price target on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 6.06% from the company’s previous close.

A number of other analysts have also recently issued reports on IP. JPMorgan Chase & Co. boosted 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. Truist Financial set a $48.00 price target on shares of International Paper in a report on Thursday, February 26th. Royal Bank Of Canada decreased their price objective on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Stifel Nicolaus dropped their price objective on shares of International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, Jefferies Financial Group lifted their target price on shares of International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.23.

International Paper Trading Up 2.4%

Shares of IP opened at $35.83 on Wednesday. International Paper has a twelve month low of $33.57 and a twelve month high of $56.13. The firm has a market capitalization of $18.97 billion, a P/E ratio of -5.34 and a beta of 1.09. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $41.62 and its 200 day simple moving average is $41.78.

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

Insider Activity at International Paper

In other news, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the purchase, the director owned 26,092 shares of the company’s stock, valued at $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were purchased at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the acquisition, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 76,092 shares of company stock valued at $2,999,064 in the last ninety days. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Paper

A number of institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of International Paper in the first quarter worth about $249,000. Intech Investment Management LLC increased 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 during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of International Paper in the 2nd quarter valued at approximately $210,000. Quadrant Capital Group LLC boosted its stake in shares of International Paper by 10.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,123 shares of the basic materials company’s stock valued at $427,000 after buying an additional 869 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of International Paper during the second quarter worth approximately $35,000. Institutional investors and hedge funds 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.