Royal Bank of Canada Increases International Paper (NYSE:IP) Price Target to $56.00

International Paper (NYSE:IP) had its price objective lifted by Royal Bank of Canada from $52.00 to $56.00 in a research report sent to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. Seaport Res Ptn upgraded International Paper from a hold rating to a strong-buy rating in a research note on Friday, June 28th. Truist Financial lifted their target price on International Paper from $52.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Jefferies Financial Group upgraded International Paper from a hold rating to a buy rating and lifted their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They set a hold rating and a $48.70 target price for the company. Finally, Wells Fargo & Company lifted their price target on International Paper from $41.00 to $43.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $49.96.

International Paper Stock Up 0.9 %

Shares of International Paper stock opened at $46.63 on Thursday. The business’s 50 day simple moving average is $44.60 and its 200 day simple moving average is $39.40. International Paper has a 52-week low of $31.76 and a 52-week high of $47.40. The firm has a market cap of $16.20 billion, a PE ratio of 94.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.22 and a current ratio of 1.59.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. On average, analysts predict that International Paper will post 2.01 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.97%. International Paper’s dividend payout ratio is presently 377.55%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,600 shares of company stock valued at $150,594 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

A number of institutional investors have recently modified their holdings of the business. MCF Advisors LLC grew its position in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after buying an additional 475 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper in the 1st quarter valued at about $29,000. CVA Family Office LLC bought a new stake in shares of International Paper in the 4th quarter valued at about $27,000. Finally, Assetmark Inc. grew its position in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after buying an additional 649 shares during 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.