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 investment analysts at Wells Fargo & Company in a report issued on Friday, MarketBeat.com reports. They currently have a $40.00 price target on the basic materials company's stock, down from their prior price target of $45.00. Wells Fargo & Company's target price would indicate a potential downside of 16.39% from the company's current price.

A number of other research firms have also weighed in on IP. JPMorgan Chase & Co. began coverage on International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial lowered their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. Finally, StockNews.com downgraded International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $54.21.

International Paper Price Performance

Shares of NYSE:IP traded up $3.57 during trading on Friday, reaching $47.84. The stock had a trading volume of 6,755,633 shares, compared to its average volume of 8,146,382. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The business has a fifty day moving average price of $48.93 and a 200-day moving average price of $53.44. The stock has a market cap of $25.25 billion, a PE ratio of 30.47, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a 1-year low of $38.54 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly 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 firm 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 4.75% and a net margin of 2.99%. The business's revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, equities analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On International Paper

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in International Paper by 52.0% during the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in International Paper by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock worth $2,561,651,000 after purchasing an additional 368,648 shares during the period. Capital Research Global Investors increased its holdings in International Paper by 68.8% during the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. FMR LLC increased its holdings in International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock worth $914,712,000 after purchasing an additional 2,782,042 shares during the period. 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.