Wells Fargo & Company Lowers International Paper (NYSE:IP) Price Target to $45.00

International Paper (NYSE:IP) had its target price decreased by Wells Fargo & Company from $52.00 to $45.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Truist Financial restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Trading Down 4.5 %

Shares of IP stock opened at $44.64 on Tuesday. The business has a 50-day moving average of $53.38 and a 200 day moving average of $53.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The stock has a market capitalization of $23.49 billion, a PE ratio of 28.43, a P/E/G ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 4.14%. International Paper’s payout ratio is 117.83%.

Institutional Trading of International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in IP. Sierra Ocean LLC bought a new stake in International Paper in the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new position in International Paper in the 4th quarter worth about $26,000. Picton Mahoney Asset Management grew its position in International Paper by 67.0% during the 4th 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 during the last quarter. Versant Capital Management Inc increased its stake in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock worth $33,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.