Royal Bank of Canada Reaffirms “Outperform” Rating for International Paper (NYSE:IP)

International Paper (NYSE:IP)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $64.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 15.42% from the company’s previous close.

Other research analysts have also issued research reports about the company. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Stock Down 1.4 %

Shares of International Paper stock traded down $0.81 on Wednesday, reaching $55.45. 2,911,820 shares of the company were exchanged, compared to its average volume of 9,848,852. The stock’s 50 day moving average price is $54.96 and its 200-day moving average price is $53.61. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market cap of $29.17 billion, a P/E ratio of 35.32, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts forecast that International Paper will post 2.77 EPS for the current year.

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in International Paper in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper during the 4th quarter valued at approximately $26,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper during the 3rd quarter worth approximately $28,000. Finally, Picton Mahoney Asset Management boosted its stake in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Institutional investors and hedge funds 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.