International Paper (NYSE:IP) Earns “Outperform” Rating from Royal Bank of Canada

International Paper (NYSE:IP)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They currently have a $64.00 target price on the basic materials company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 14.08% from the company’s current price.

A number of other research analysts also recently issued reports on IP. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Down 1.7 %

Shares of IP stock traded down $0.95 on Friday, hitting $56.10. The stock had a trading volume of 12,386,395 shares, compared to its average volume of 6,054,595. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The business has a 50 day moving average of $56.13 and a 200 day moving average of $51.54. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 47.95 and a beta of 1.03.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. As a group, analysts expect that International Paper will post 1.07 EPS for the current year.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Institutional investors and hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in shares of International Paper in the 3rd quarter valued at about $25,000. Sierra Ocean LLC purchased a new stake in International Paper in the fourth quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in International Paper in the 3rd quarter worth approximately $28,000. Finally, Versant Capital Management Inc increased its holdings in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the last quarter. Hedge funds and other institutional investors 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.