Truist Financial Reiterates "Buy" Rating for International Paper (NYSE:IP)

Truist Financial reaffirmed their buy rating on shares of International Paper (NYSE:IP - Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a $40.00 price objective on the basic materials company's stock.

Other research analysts have also recently issued reports about the company. Citigroup raised International Paper from a neutral rating to a buy rating and lifted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. StockNews.com cut International Paper from a buy rating to a hold rating in a research report on Sunday, January 14th. Argus cut International Paper from a buy rating to a hold rating in a research report on Monday, February 26th. Royal Bank of Canada reaffirmed an outperform rating and set a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Finally, Wells Fargo & Company decreased their target price on International Paper from $39.00 to $35.00 and set an equal weight rating on the stock in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $37.13.

International Paper Stock Performance

NYSE:IP traded down $0.85 on Wednesday, hitting $35.06. The stock had a trading volume of 6,257,954 shares, compared to its average volume of 4,646,304. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 43.05 and a beta of 0.99. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. The business's 50-day simple moving average is $36.70 and its two-hundred day simple moving average is $35.84. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.67 billion. During the same period last year, the firm posted $0.87 earnings per share. The business's revenue for the quarter was down 10.4% on a year-over-year basis. As a group, research analysts predict that International Paper will post 1.88 earnings per share for the current year.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares of the company's stock, valued at approximately $2,414,708. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is owned by company insiders.

Institutional Trading of International Paper

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of International Paper by 4.0% during the 1st quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company's stock valued at $1,331,687,000 after purchasing an additional 1,436,757 shares during the last quarter. State Street Corp increased its position in shares of International Paper by 0.9% during the 1st quarter. State Street Corp now owns 24,364,091 shares of the basic materials company's stock valued at $1,124,403,000 after purchasing an additional 218,754 shares during the last quarter. Franklin Resources Inc. increased its position in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company's stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the last quarter. Greenhaven Associates Inc. increased its position in shares of International Paper by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company's stock valued at $355,550,000 after purchasing an additional 25,640 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in International Paper by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company's stock valued at $319,844,000 after acquiring an additional 35,930 shares during the period. 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.