Jefferies Financial Group Issues Positive Forecast for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its target price lifted by Jefferies Financial Group from $47.00 to $48.00 in a report released on Thursday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the basic materials company’s stock.

IP has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of International Paper from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. UBS Group decreased their price target on International Paper from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Citigroup lowered their target price on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Argus decreased their price objective on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.07.

International Paper Trading Down 0.5%

Shares of IP traded down $0.21 during midday trading on Thursday, reaching $41.63. The company had a trading volume of 1,061,970 shares, compared to its average volume of 5,147,544. International Paper has a 1-year low of $35.56 and a 1-year high of $60.15. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The firm has a 50 day simple moving average of $39.66 and a 200-day simple moving average of $44.50. The stock has a market cap of $21.98 billion, a PE ratio of -15.95, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. International Paper’s revenue for the quarter was up 56.4% on a year-over-year basis. Research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

Insider Activity at International Paper

In related news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gentry Private Wealth LLC boosted its holdings in International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 188 shares in the last quarter. Wellington Shields Capital Management LLC lifted its position in shares of International Paper by 7.0% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock worth $162,000 after buying an additional 226 shares during the last quarter. International Private Wealth Advisors LLC boosted its holdings in shares of International Paper by 4.1% in the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after buying an additional 243 shares in the last quarter. Atalanta Sosnoff Capital LLC grew its position in shares of International Paper by 3.8% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock valued at $317,000 after buying an additional 245 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of International Paper by 10.1% in the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after buying an additional 259 shares during the last quarter. 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.