International Paper (NYSE:IP) Price Target Raised to $65.00

International Paper (NYSE:IP) had its target price lifted by Truist Financial from $61.00 to $65.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

IP has been the subject of several other reports. Royal Bank of Canada boosted their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.99.

International Paper Trading Up 2.1 %

Shares of IP stock opened at $54.74 on Monday. The stock has a 50 day simple moving average of $56.27 and a 200 day simple moving average of $50.13. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market cap of $19.02 billion, a P/E ratio of 46.79 and a beta of 1.03.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the firm posted $0.64 EPS. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts predict that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.38%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 2,400 shares of company stock worth $129,696 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in International Paper during the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in International Paper during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in International Paper in the third quarter valued at $28,000. Versant Capital Management Inc boosted its position in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, Eastern Bank acquired a new stake in International Paper during the 3rd quarter worth about $40,000. 81.95% of the stock is currently owned by institutional investors.

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.