International Paper (NYSE:IP) Receives Outperform Rating from Royal Bank of Canada

International Paper (NYSE:IP)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $64.00 target price on the basic materials company’s stock. Royal Bank of Canada’s target price points to a potential upside of 15.42% from the stock’s current price.

A number of other research firms have also weighed in on IP. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

Shares of International Paper stock traded down $0.81 during mid-day trading on Wednesday, reaching $55.45. 2,911,820 shares of the stock traded hands, compared to its average volume of 9,848,852. The stock has a market capitalization of $29.17 billion, a PE ratio of 35.32, a PEG ratio of 0.39 and a beta of 1.02. The business has a 50-day moving average of $54.96 and a 200 day moving average of $53.61. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, analysts predict that International Paper will post 2.77 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Paper by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company’s stock worth $2,561,651,000 after acquiring an additional 368,648 shares during the last quarter. Vanguard Group Inc. raised its position in International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after purchasing an additional 340,383 shares during the period. Capital Research Global Investors lifted its stake in International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC boosted its position in shares of International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after buying an additional 8,720,575 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of International Paper by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after buying an additional 24,816 shares in the last quarter. Hedge funds and other 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.