JPMorgan Chase & Co. Increases International Paper (NYSE:IP) Price Target to $51.00

International Paper (NYSE:IP) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $43.00 to $51.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 34.34% from the company’s previous close.

IP has been the subject of several other research reports. Weiss Ratings lowered shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. BNP Paribas Exane reduced their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Truist Financial decreased their price objective on shares of International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a research note on Wednesday, April 1st. They set a “hold” rating and a $38.00 target price for the company. Finally, Seaport Research Partners upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average target price of $45.23.

International Paper Trading Up 2.1%

Shares of IP stock opened at $37.96 on Thursday. The stock has a market cap of $20.10 billion, a price-to-earnings ratio of -5.97 and a beta of 0.94. The stock has a 50-day moving average of $34.57 and a 200-day moving average of $38.13. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper has a 1-year low of $29.26 and a 1-year high of $56.13.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the business earned $0.17 earnings per share. International Paper’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts forecast that International Paper will post 1.39 earnings per share for the current year.

Insider Transactions at International Paper

In other International Paper news, Director Scott Tozier purchased 10,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC grew its holdings in International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares during the period. MV Capital Management Inc. bought a new stake in International Paper in the fourth quarter valued at $25,000. Sound Income Strategies LLC raised its holdings in shares of International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 344 shares during the period. DV Equities LLC acquired a new position in shares of International Paper during the fourth quarter valued at about $29,000. Finally, Ascentis Independent Advisors bought a new position in shares of International Paper during the 1st quarter worth about $28,000. 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.