International Paper (NYSE:IP) Receives Outperform Rating from Royal Bank of Canada

International Paper (NYSE:IP)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $64.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 16.75% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Truist Financial reiterated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Bank of America began coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

Shares of IP opened at $54.82 on Wednesday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a market capitalization of $28.84 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The firm has a 50 day moving average of $54.93 and a 200 day moving average of $53.63. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of International Paper by 7.3% during the third quarter. Cerity Partners LLC now owns 38,050 shares of the basic materials company’s stock valued at $1,859,000 after buying an additional 2,588 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in International Paper by 1.1% during the third quarter. Daiwa Securities Group Inc. now owns 40,947 shares of the basic materials company’s stock valued at $2,000,000 after acquiring an additional 442 shares in the last quarter. Private Trust Co. NA grew its stake in International Paper by 15.9% during the third quarter. Private Trust Co. NA now owns 5,627 shares of the basic materials company’s stock valued at $275,000 after acquiring an additional 771 shares in the last quarter. FMR LLC increased its holdings in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in International Paper in the 3rd quarter worth $25,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Company Profile

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.