Brokerages Set International Paper Company (NYSE:IP) Target Price at $54.54

International Paper Company (NYSE:IP) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $54.54.

Several brokerages have recently weighed in on IP. UBS Group began coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $40.00 target price (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

Institutional Trading of International Paper

A number of institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC lifted its holdings in shares of International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Picton Mahoney Asset Management lifted its holdings in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 0.4%

NYSE IP opened at $45.93 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market cap of $24.25 billion, a PE ratio of 39.26, a P/E/G ratio of 0.42 and a beta of 1.04. International Paper has a one year low of $41.50 and a one year high of $60.36. The firm’s fifty day moving average is $47.05 and its two-hundred day moving average is $51.67.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper’s dividend payout ratio is currently 158.12%.

About International Paper

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.