International Paper (NYSE:IP) Given New $51.00 Price Target at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its price target boosted by JPMorgan Chase & Co. from $43.00 to $51.00 in a report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the company. Citigroup lowered their price objective on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on International Paper in a research report on Wednesday, April 1st. They set a “hold” rating and a $38.00 target price for the company. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. BNP Paribas Exane lowered their price target on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Wells Fargo & Company upped their price target on International Paper from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday. Nine equities research 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. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $45.23.

International Paper Stock Performance

IP stock opened at $37.20 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. International Paper has a 1 year low of $29.26 and a 1 year high of $56.13. The company has a market cap of $19.70 billion, a P/E ratio of -5.85 and a beta of 0.94. The stock’s fifty day moving average price is $34.48 and its 200-day moving average price is $38.13.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, equities analysts forecast that International Paper will post 1.39 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 5.0%. International Paper’s dividend payout ratio is currently -29.09%.

Insiders Place Their Bets

In other International Paper news, Director Scott Tozier bought 10,000 shares of International Paper stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in shares of International Paper by 29.4% during the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after purchasing an additional 14,422,616 shares during the period. Franklin Resources Inc. increased its holdings in International Paper by 81.6% in the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after buying an additional 6,663,986 shares during the period. Norges Bank purchased a new position in International Paper during the 4th quarter worth approximately $250,093,000. Bank of New York Mellon Corp raised its position in International Paper by 66.2% during the 1st quarter. Bank of New York Mellon Corp now owns 13,601,299 shares of the basic materials company’s stock worth $485,566,000 after buying an additional 5,417,274 shares during the last quarter. Finally, Atlas FRM LLC lifted its stake in International Paper by 56.2% during the 4th quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock valued at $196,950,000 after acquiring an additional 1,800,000 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.