Brokerages Set International Paper Company (NYSE:IP) Target Price at $46.56

Shares of International Paper Company (NYSE:IP) have received an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.4750.

A number of equities analysts have commented on IP shares. UBS Group cut their price objective on shares of International Paper from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Jefferies Financial Group boosted their price target on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. BNP Paribas Exane cut their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Citigroup reduced their price objective on shares of International Paper from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on International Paper in a report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price objective on the stock.

International Paper Stock Down 0.9%

International Paper stock opened at $36.20 on Tuesday. The stock has a 50 day moving average of $40.12 and a two-hundred day moving average of $40.98. International Paper has a twelve month low of $33.57 and a twelve month high of $56.13. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of -5.39 and a beta of 1.14. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, research analysts expect that International Paper will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction dated Friday, January 30th. The shares were bought at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the purchase, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 76,092 shares of company stock worth $2,999,064 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of International Paper

A number of institutional investors have recently added to or reduced their stakes in IP. McIlrath & Eck LLC grew its position in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares during the period. MV Capital Management Inc. purchased a new stake in shares of International Paper during the 4th quarter worth approximately $25,000. DV Equities LLC purchased a new stake in shares of International Paper during the 4th quarter worth approximately $29,000. Sound Income Strategies LLC grew its holdings in shares of International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the period. Finally, Summit Securities Group LLC increased its stake in International Paper by 115.4% in the 4th quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 5,875 shares in the last quarter. 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.