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

International Paper (NYSE:IP) had its price target trimmed by Truist Financial from $55.00 to $53.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other equities analysts have also recently commented on IP. BNP Paribas Exane reduced their price target on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research report on Wednesday, October 8th. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. JPMorgan Chase & Co. cut shares of International Paper from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wells Fargo & Company increased their price target on shares of International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 7th. Finally, Seaport Res Ptn cut shares of International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.46.

International Paper Stock Performance

NYSE:IP opened at $46.93 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The firm has a 50-day moving average of $47.19 and a two-hundred day moving average of $47.97. The stock has a market cap of $24.78 billion, a P/E ratio of -469.30, a PEG ratio of 0.57 and a beta of 1.10. International Paper has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 42.9% on a year-over-year basis. On average, research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.9%. International Paper’s dividend payout ratio is currently -1,850.00%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Several large investors have recently made changes to their positions in IP. Rise Advisors LLC increased its stake in shares of International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. AlphaQuest LLC increased its stake in shares of International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of International Paper in the second quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of International Paper in the first quarter valued at approximately $34,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of International Paper in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.