International Paper (NYSE:IP) Price Target Raised to $65.00 at Truist Financial

International Paper (NYSE:IP) had its target price boosted by Truist Financial from $61.00 to $65.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other research analysts also recently commented on the stock. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average price target of $51.99.

International Paper Price Performance

Shares of NYSE IP opened at $53.40 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $56.03 and a two-hundred day simple moving average of $50.04. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The firm has a market cap of $18.55 billion, a price-to-earnings ratio of 45.64 and a beta of 1.03.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Analysts anticipate that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.4625 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.46%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the sale, the director now owns 38,345 shares in the company, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 2,400 shares of company stock valued at $129,696 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares during the period. Institutional investors own 81.95% of the company’s stock.

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.