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 target price on the basic materials company’s stock.

A number of other research firms have also recently weighed in on IP. Bank of America raised shares of International Paper from an underperform rating to a buy rating and upped their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. StockNews.com cut shares of International Paper from a buy rating to a hold rating in a research note on Sunday, January 14th. Royal Bank of Canada restated an outperform rating and issued a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Argus lowered shares of International Paper from a buy rating to a hold rating in a research report on Monday, February 26th. Finally, Citigroup upgraded shares of International Paper from a neutral rating to a buy rating and upped their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $37.13.

International Paper Stock Performance

NYSE:IP opened at $35.06 on Wednesday. The firm’s 50-day moving average is $36.72 and its 200-day moving average is $35.84. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 42.76 and a beta of 0.99.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that International Paper will post 1.88 earnings per share for the current year.

Insider Activity at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 8,800 shares of company stock worth $310,438 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Large investors have recently bought and sold shares of the company. MCF Advisors LLC increased its position in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of International Paper during the first quarter worth $73,000. 180 Wealth Advisors LLC increased its position in shares of International Paper by 4.2% during the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after acquiring an additional 318 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of International Paper by 12.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 144,721 shares of the basic materials company’s stock worth $5,647,000 after acquiring an additional 15,667 shares in the last quarter. Finally, GoalVest Advisory LLC increased its position in shares of International Paper by 4.7% during the first quarter. GoalVest Advisory LLC now owns 31,134 shares of the basic materials company’s stock worth $1,215,000 after acquiring an additional 1,386 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

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.