JPMorgan Chase & Co. Boosts International Paper (NYSE:IP) Price Target to $51.00

Key Points

• JPMorgan Chase & Co. raised its price target on International Paper from $43 to $51 while keeping a neutral rating, implying about 39% upside from the prior close.
• Analyst views remain mixed overall: International Paper now has a Moderate Buy consensus, with 9 Buy, 3 Hold, and 2 Sell ratings, and an average price target of $44.64.
• The company recently reported mixed quarterly results, missing EPS and revenue estimates, while a director separately bought 10,000 shares, signaling insider confidence.

International Paper (NYSE:IP - Get Free Report) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $43.00 to $51.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 38.99% from the stock's previous close.

IP has been the topic of a number of other reports. Royal Bank Of Canada decreased their target price on International Paper from $48.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Thursday, April 23rd. UBS Group decreased their price target on shares of International Paper from $40.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. Wells Fargo & Company raised their price objective on shares of International Paper from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on International Paper in a report on Wednesday, April 1st. They set a "hold" rating and a $38.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $44.64.

International Paper Stock Performance

Shares of International Paper stock opened at $36.69 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of -5.77 and a beta of 0.94. The stock's 50-day moving average is $34.41 and its 200-day moving average is $38.13. International Paper has a one year low of $29.26 and a one year high of $56.13.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts predict that International Paper will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Scott Tozier acquired 10,000 shares of the stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently modified their holdings of the business. MCF Advisors LLC lifted its holdings in shares of International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company's stock worth $34,000 after acquiring an additional 229 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock worth $236,000 after acquiring an additional 242 shares during the period. International Private Wealth Advisors LLC boosted its stake in shares of International Paper by 4.1% in the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company's stock valued at $243,000 after purchasing an additional 243 shares during the last quarter. Independent Advisor Alliance boosted its position in International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock valued at $305,000 after acquiring an additional 244 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock worth $333,000 after acquiring an additional 267 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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