International Paper (NYSE:IP) Receives "Outperform" Rating from Royal Bank of Canada

International Paper (NYSE:IP - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $64.00 target price on the basic materials company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 20.23% from the stock's current price.

Several other analysts also recently commented on IP. StockNews.com upgraded shares of International Paper from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Truist Financial restated a "buy" rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, International Paper has a consensus rating of "Moderate Buy" and a consensus target price of $55.32.

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International Paper Stock Performance

NYSE IP traded down $1.37 on Wednesday, hitting $53.23. 4,875,768 shares of the company traded hands, compared to its average volume of 9,784,123. The business's 50 day moving average price is $54.86 and its 200-day moving average price is $53.71. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Equities analysts expect that International Paper will post 2.77 earnings per share for the current year.

Institutional Trading of International Paper

Several hedge funds have recently made changes to their positions in IP. Price T Rowe Associates Inc. MD raised its position in International Paper by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock valued at $2,561,651,000 after purchasing an additional 368,648 shares during the period. Vanguard Group Inc. lifted its position in International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after buying an additional 340,383 shares during the last quarter. Capital Research Global Investors lifted its position in International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after buying an additional 12,191,361 shares during the last quarter. FMR LLC increased its position in International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after acquiring an additional 8,720,575 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after acquiring an additional 24,816 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.