Royal Bank of Canada Reiterates Outperform Rating for International Paper (NYSE:IP)

International Paper (NYSE:IP)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $64.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 14.08% from the company’s current price.

Several other equities analysts also recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Price Performance

Shares of IP stock traded down $0.95 during trading hours on Friday, reaching $56.10. The company’s stock had a trading volume of 12,386,395 shares, compared to its average volume of 6,054,595. The firm’s 50 day simple moving average is $56.13 and its 200-day simple moving average is $51.54. The company has a market capitalization of $19.49 billion, a price-to-earnings ratio of 47.95 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. Sell-side analysts forecast that International Paper will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now owns 37,745 shares of the company’s stock, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp raised its stake in International Paper by 4.7% during the 2nd quarter. Mackenzie Financial Corp now owns 31,775 shares of the basic materials company’s stock worth $1,371,000 after buying an additional 1,420 shares during the period. Creative Planning increased its stake in International Paper by 6.1% during the 2nd quarter. Creative Planning now owns 68,425 shares of the basic materials company’s stock valued at $2,953,000 after purchasing an additional 3,947 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in International Paper by 4.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,426 shares of the basic materials company’s stock worth $1,658,000 after buying an additional 1,490 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of International Paper by 1,011.5% in the second quarter. NewEdge Advisors LLC now owns 31,190 shares of the basic materials company’s stock valued at $1,346,000 after buying an additional 28,384 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of International Paper during the second quarter valued at about $1,104,000. 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.