International Paper (NYSE:IP) Price Target Raised to $48.00

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

Several other equities research analysts also recently issued reports on the stock. Citigroup decreased their price objective 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. Stifel Nicolaus set a $57.80 price target on shares of International Paper and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group lowered their price target on International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a report on Monday, January 12th. Truist Financial boosted their price objective on International Paper from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, BNP Paribas Exane raised International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Monday, November 24th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.07.

International Paper Stock Performance

NYSE:IP opened at $43.17 on Thursday. International Paper has a 52 week low of $35.56 and a 52 week high of $60.15. The company has a fifty day simple moving average of $39.77 and a two-hundred day simple moving average of $44.41. 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 company has a market cap of $22.80 billion, a price-to-earnings ratio of -16.54, a price-to-earnings-growth ratio of 0.50 and a beta of 1.10.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was up 56.4% compared to the same quarter last year. As a group, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently modified their holdings of IP. AlphaQuest LLC raised its position in International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of International Paper in the second quarter valued at approximately $33,000. Elevation Point Wealth Partners LLC bought a new stake in shares of International Paper in the second quarter worth $35,000. Finally, Kelleher Financial Advisors bought a new stake in shares of International Paper in the third quarter worth $36,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.