International Paper (NYSE:IP) Price Target Cut to $45.00 by Analysts at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its price objective reduced by JPMorgan Chase & Co. from $46.00 to $45.00 in a research report report published on Wednesday,MarketScreener reports. They currently have a neutral rating on the basic materials company’s stock.

A number of other analysts have also recently commented on IP. Jefferies Financial Group upped their price target on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Royal Bank Of Canada set a $55.00 price target on shares of International Paper and gave the company an “outperform” rating in a report on Thursday, December 18th. Citigroup reduced their price objective on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the company a “buy” rating in a research report on Friday, October 17th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.07.

International Paper Stock Performance

IP stock traded down $0.35 during trading on Wednesday, reaching $41.49. The stock had a trading volume of 596,156 shares, compared to its average volume of 5,093,127. The firm has a market cap of $21.91 billion, a PE ratio of -15.90, a PEG ratio of 0.48 and a beta of 1.10. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $39.66 and its two-hundred day moving average is $44.50. International Paper has a 52 week low of $35.56 and a 52 week high of $60.15.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The company’s revenue was up 56.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors grew its position in International Paper by 51.4% in the 3rd quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after acquiring an additional 16,622,062 shares during the last quarter. Norges Bank bought a new position in International Paper in the second quarter worth approximately $281,735,000. Capital Research Global Investors raised its holdings in shares of International Paper by 7.5% in the third quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock valued at $2,520,945,000 after acquiring an additional 3,768,772 shares in the last quarter. M&G PLC raised its holdings in shares of International Paper by 165.9% in the 2nd quarter. M&G PLC now owns 3,220,070 shares of the basic materials company’s stock valued at $150,553,000 after purchasing an additional 2,009,123 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in International Paper by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.