Brokerages Set International Paper (NYSE:IP) Price Target at $55.32

Shares of International Paper (NYSE:IP) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $55.32.

Several research firms recently commented on IP. Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. began coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock.

International Paper Price Performance

IP stock opened at $47.89 on Friday. The firm has a market cap of $25.20 billion, a P/E ratio of 30.50, a P/E/G ratio of 0.39 and a beta of 0.99. The firm’s fifty day moving average is $54.18 and its 200 day moving average is $53.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Institutional Investors Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in IP. Sierra Ocean LLC acquired a new position in shares of International Paper during the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the 4th quarter valued at $26,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper in the third quarter valued at approximately $28,000. Picton Mahoney Asset Management grew its holdings in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.