Truist Financial Cuts International Paper (NYSE:IP) Price Target to $53.00

Key Points

• Truist Financial has lowered its price target for International Paper from $55.00 to $53.00, maintaining a "buy" rating, which indicates a potential upside of 15.64% from the current stock price.
• Recent reports show mixed analyst ratings for International Paper, with six analysts recommending a "buy," while others have downgraded their ratings and price targets, reflecting uncertainty in the company's performance.
• International Paper recently reported a quarterly EPS of $0.20, missing expectations, but its revenue increased by 42.9% year-over-year, indicating growth despite earnings challenges.

International Paper (NYSE:IP - Get Free Report) had its target price decreased by analysts at Truist Financial from $55.00 to $53.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the basic materials company's stock. Truist Financial's target price suggests a potential upside of 15.64% from the stock's current price.

Several other analysts have also recently commented on the stock. Jefferies Financial Group reduced their target price on shares of International Paper from $61.00 to $59.00 and set a "buy" rating for the company in a research note on Friday, September 26th. BNP Paribas Exane reduced their price objective on shares of International Paper from $42.10 to $40.40 and set an "underperform" rating for the company in a research note on Wednesday, October 8th. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Finally, UBS Group reduced their price objective on shares of International Paper from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, October 6th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $53.46.

International Paper Stock Up 0.3%

IP traded up $0.14 during trading hours on Monday, hitting $45.83. 482,964 shares of the company's stock were exchanged, compared to its average volume of 5,970,717. International Paper has a 12-month low of $43.27 and a 12-month high of $60.36. The firm has a 50 day moving average of $47.17 and a 200 day moving average of $48.04. The firm has a market cap of $24.20 billion, a P/E ratio of -458.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper's revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Insider Activity at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Paper

A number of institutional investors have recently bought and sold shares of IP. Vanguard Group Inc. grew its holdings in International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock valued at $3,340,966,000 after purchasing an additional 21,428,455 shares during the period. Norges Bank acquired a new position in International Paper during the second quarter valued at approximately $281,735,000. Price T Rowe Associates Inc. MD lifted its position in International Paper by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company's stock valued at $2,763,426,000 after buying an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp lifted its position in International Paper by 19.4% during the first quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock valued at $914,712,000 after buying an additional 2,782,042 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in International Paper by 230.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company's stock valued at $211,543,000 after buying an additional 2,763,634 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.