International Paper (NYSE:IP) Given New $43.00 Price Target at Wells Fargo & Company

International Paper (NYSE:IP - Get Free Report) had its price objective boosted by Wells Fargo & Company from $40.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the basic materials company's stock. Wells Fargo & Company's price target points to a potential downside of 17.94% from the stock's previous close.

A number of other brokerages also recently commented on IP. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective for the company. UBS Group started coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $55.65.

International Paper Stock Performance

Shares of IP stock traded up $1.04 during mid-day trading on Thursday, hitting $52.40. 4,097,867 shares of the stock were exchanged, compared to its average volume of 3,223,405. International Paper has a 12-month low of $42.35 and a 12-month high of $60.36. The stock has a market capitalization of $27.66 billion, a price-to-earnings ratio of 44.79, a P/E/G ratio of 0.47 and a beta of 1.02. The stock's fifty day simple moving average is $47.56 and its two-hundred day simple moving average is $51.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33.

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

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, the chief accounting officer owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC boosted its holdings in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of International Paper during the first quarter worth about $34,000. Bernard Wealth Management Corp. acquired a new position in shares of International Paper during the fourth quarter worth about $37,000. Finally, Transce3nd LLC acquired a new position in shares of International Paper during the fourth quarter worth about $38,000. 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.