International Paper (NYSE:IP) Earns Underweight Rating from Wells Fargo & Company

International Paper (NYSE:IP - Get Free Report)'s stock had its "underweight" rating reaffirmed by Wells Fargo & Company in a research note issued on Thursday, Marketbeat reports. They presently have a $43.00 price target on the basic materials company's stock, up from their prior price target of $40.00. Wells Fargo & Company's target price points to a potential downside of 17.39% from the company's previous close.

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

International Paper Price Performance

Shares of NYSE IP traded down $0.36 during midday trading on Thursday, reaching $52.05. The company's stock had a trading volume of 350,528 shares, compared to its average volume of 6,807,140. 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 has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The business's 50 day moving average price is $47.86 and its two-hundred day moving average price is $50.98. The company has a market cap of $27.48 billion, a P/E ratio of 44.49, a P/E/G ratio of 0.48 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm's revenue for the quarter 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 fiscal year.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on 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 owned 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Paper

A number of large investors have recently added to or reduced their stakes in the business. Spire Wealth Management boosted its stake in International Paper by 2,343.9% during the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock worth $86,000 after acquiring an additional 1,547 shares in the last quarter. Korea Investment CORP boosted its stake in International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock worth $16,720,000 after acquiring an additional 213,783 shares in the last quarter. Raymond James Financial Inc. bought a new stake in International Paper during the fourth quarter worth about $21,307,000. Sequoia Financial Advisors LLC boosted its stake in International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after acquiring an additional 231 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in International Paper by 37.3% during the first quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company's stock worth $1,194,000 after acquiring an additional 6,077 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

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.