International Paper (NYSE:IP) Given New $65.00 Price Target at Truist Financial

International Paper (NYSE:IP - Free Report) had its price target increased by Truist Financial from $61.00 to $65.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the basic materials company's stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. BNP Paribas downgraded shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.99.

International Paper Price Performance

NYSE:IP traded up $0.55 during mid-day trading on Monday, reaching $53.40. 3,889,272 shares of the company were exchanged, compared to its average volume of 3,469,491. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market cap of $18.55 billion, a PE ratio of 45.64 and a beta of 1.03. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a fifty day moving average of $55.94 and a 200 day moving average of $50.00.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. International Paper's revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, November 15th. International Paper's dividend payout ratio is currently 158.12%.

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 Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the transaction, the director now directly owns 38,945 shares of the company's stock, valued at approximately $1,872,475.60. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 2,400 shares of company stock valued at $129,696. Corporate insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently modified their holdings of IP. TD Asset Management Inc raised its position in International Paper by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 121,009 shares of the basic materials company's stock valued at $5,222,000 after buying an additional 3,984 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of International Paper by 13.4% in the second quarter. National Bank of Canada FI now owns 167,021 shares of the basic materials company's stock valued at $7,236,000 after purchasing an additional 19,789 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of International Paper by 0.5% in the second quarter. Victory Capital Management Inc. now owns 775,079 shares of the basic materials company's stock worth $33,445,000 after purchasing an additional 3,770 shares in the last quarter. Private Advisor Group LLC boosted its holdings in International Paper by 1.9% during the second quarter. Private Advisor Group LLC now owns 40,305 shares of the basic materials company's stock worth $1,739,000 after purchasing an additional 757 shares during the last quarter. Finally, Savant Capital LLC grew its position in International Paper by 4.8% in the second quarter. Savant Capital LLC now owns 30,295 shares of the basic materials company's stock valued at $1,307,000 after purchasing an additional 1,399 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

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.