Brokerages Set International Paper Company (NYSE:IP) Price Target at $48.75

by · The Cerbat Gem

International Paper Company (NYSE:IP – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $49.1308.

Several analysts have commented on IP shares. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Friday, September 11th. Citigroup increased their price target on International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. JPMorgan Chase & Co. raised shares of International Paper from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $51.00 to $61.00 in a research note on Tuesday, July 28th. Finally, Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, August 25th.

Check Out Our Latest Analysis on IP

Insider Transactions at International Paper

In other news, VP William Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the transaction, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in International Paper in the 2nd quarter worth $1,940,896,000. Bank of New York Mellon Corp acquired a new stake in shares of International Paper during the second quarter worth about $689,498,000. Capital International Investors boosted its position in International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after buying an additional 14,422,616 shares during the last quarter. Atlas FRM LLC purchased a new position in International Paper during the 2nd quarter worth approximately $374,904,000. Finally, Franklin Resources Inc. lifted its stake in International Paper by 81.6% during the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after acquiring an additional 6,663,986 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $33.98 on Friday. The firm has a market cap of $17.99 billion, a price-to-earnings ratio of -5.21, a price-to-earnings-growth ratio of 4.30 and a beta of 0.93. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $39.04 and a 200-day moving average price of $36.77. International Paper has a twelve month low of $29.26 and a twelve month high of $50.25.

International Paper (NYSE:IP – Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the company earned $0.20 EPS. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, equities research analysts predict that International Paper will post 1.33 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 5.4%. The ex-dividend date was Friday, August 14th. International Paper’s dividend payout ratio is presently -28.37%.

International Paper Company Profile

(Get Free Report)

International Paper Company (NYSE: IP) is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.

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