Argus Has Lowered Expectations for International Paper (NYSE:IP) Stock Price

International Paper (NYSE:IP) had its price objective lowered by research analysts at Argus from $55.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Argus’ price objective would indicate a potential upside of 26.68% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 15th. Seaport Res Ptn lowered shares of International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Truist Financial lowered their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Bank of America raised International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.23.

International Paper Stock Up 0.5%

Shares of NYSE IP opened at $39.47 on Monday. The firm has a market cap of $20.84 billion, a P/E ratio of -15.12, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. International Paper has a 1 year low of $35.56 and a 1 year high of $60.15. The firm’s 50 day moving average price is $40.20 and its 200 day moving average price is $45.40.

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

Insider Buying and Selling

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IP. Bank of New York Mellon Corp grew its holdings in shares of International Paper by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in International Paper by 9.7% during the second quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock worth $108,819,000 after acquiring an additional 205,888 shares during the last quarter. Consolidated Planning Corp acquired a new position in International Paper in the 2nd quarter valued at $317,000. Whalen Wealth Management Inc. acquired a new stake in International Paper in the 2nd quarter worth about $604,000. Finally, Tableaux LLC bought a new stake in shares of International Paper in the second quarter valued at approximately $2,342,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Company Profile

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.