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

International Paper (NYSE:IP - Get Free Report) had its price objective increased by investment analysts at Wells Fargo & Company from $40.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the basic materials company's stock. Wells Fargo & Company's price objective points to a potential downside of 18.05% from the stock's previous close.

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

International Paper Stock Up 0.1%

Shares of IP traded up $0.06 during mid-day trading on Thursday, hitting $52.47. 6,329,691 shares of the company's stock were exchanged, compared to its average volume of 6,857,962. The firm has a fifty day moving average of $47.73 and a two-hundred day moving average of $51.05. International Paper has a twelve month low of $42.73 and a twelve month high of $60.36. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 44.85, a P/E/G ratio of 0.47 and a beta of 1.02. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC grew its holdings in shares of International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 346 shares during the last quarter. Picton Mahoney Asset Management grew its holdings 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 worth $29,000 after acquiring an additional 215 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in International Paper during the 1st quarter worth approximately $34,000. Bernard Wealth Management Corp. acquired a new position in shares of International Paper in the 4th quarter worth approximately $37,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of International Paper in the 1st quarter worth approximately $37,000. 81.95% of the stock is owned by institutional investors.

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.