International Paper Company (NYSE:IP) Receives $55.65 Average Price Target from Brokerages

Shares of International Paper Company (NYSE:IP - Get Free Report) have earned an average recommendation of "Hold" from the nine research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $55.65.

IP has been the topic of several research reports. Wells Fargo & Company restated an "underweight" rating and set a $43.00 price objective (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. UBS Group initiated coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price for the company. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On International Paper

A number of large investors have recently modified their holdings of IP. Rise Advisors LLC boosted its position in International Paper by 281.3% in the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after buying an additional 346 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in shares of 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 purchasing an additional 215 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of International Paper during the 1st quarter worth approximately $34,000. Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the fourth quarter worth approximately $37,000. Finally, Transce3nd LLC acquired a new position in International Paper in the fourth quarter valued at approximately $38,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

IP traded up $0.39 during trading on Friday, hitting $51.32. The stock had a trading volume of 3,350,067 shares, compared to its average volume of 6,779,647. The firm has a market cap of $27.09 billion, a PE ratio of 43.86, a P/E/G ratio of 0.48 and a beta of 1.02. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. International Paper has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a 50 day simple moving average of $48.15 and a 200-day simple moving average of $50.96.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. Analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.60%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

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.