International Paper (NYSE:IP) Price Target Raised to $57.00 at Truist Financial

International Paper (NYSE:IP - Free Report) had its price target raised by Truist Financial from $55.00 to $57.00 in a report published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the basic materials company's stock.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Stifel Nicolaus started coverage on shares of International Paper in a report on Tuesday, July 9th. They set a hold rating and a $48.70 price objective for the company. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an equal weight rating in a report on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a hold rating to a strong-buy rating in a report on Friday, June 28th. Finally, Argus raised shares of International Paper from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper has a consensus rating of Moderate Buy and a consensus target price of $50.46.

International Paper Trading Down 0.7 %

Shares of IP traded down $0.35 during mid-day trading on Tuesday, reaching $47.73. The company had a trading volume of 6,317,435 shares, compared to its average volume of 5,280,766. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 98.12 and a beta of 1.04. The firm has a fifty day simple moving average of $47.73 and a 200-day simple moving average of $43.96. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, November 15th. International Paper's payout ratio is 377.55%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company's stock, valued at $1,969,402.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,840 shares of company stock valued at $905,294 in the last ninety days. Company insiders own 0.55% of the company's stock.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its position in International Paper by 6.6% during the third quarter. Creative Planning now owns 72,925 shares of the basic materials company's stock valued at $3,562,000 after purchasing an additional 4,500 shares in the last quarter. Wesbanco Bank Inc. grew its position in International Paper by 11.7% during the third quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company's stock valued at $994,000 after purchasing an additional 2,134 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in International Paper during the third quarter valued at approximately $88,000. Exchange Traded Concepts LLC grew its position in International Paper by 677.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in International Paper by 429.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,576 shares of the basic materials company's stock worth $175,000 after acquiring an additional 2,900 shares in the last quarter. 81.95% of the stock is currently owned by 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.