International Paper Company (NYSE:IP)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a research report issued on Friday. They presently have a $66.00 target price on the basic materials company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 21.57% from the company’s current price.
IP has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $60.00 to $64.00 in a report on Thursday, July 13th. BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Vertical Research reiterated a “buy” rating on shares of International Paper in a report on Friday, July 28th. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, July 11th. Finally, Barclays PLC reiterated a “sell” rating and set a $50.00 target price on shares of International Paper in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $58.14.
Shares of International Paper (IP) opened at 54.29 on Friday. The company has a market cap of $22.42 billion, a P/E ratio of 27.57 and a beta of 1.46. International Paper has a 52 week low of $43.55 and a 52 week high of $58.95. The firm has a 50-day moving average of $55.67 and a 200 day moving average of $53.56.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that International Paper will post $3.47 EPS for the current fiscal year.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.64% of the company’s stock.
Several large investors have recently made changes to their positions in IP. Vantage Financial Partners Ltd. Inc. bought a new position in International Paper during the second quarter worth approximately $424,000. IHT Wealth Management LLC increased its position in International Paper by 26.8% in the second quarter. IHT Wealth Management LLC now owns 1,310 shares of the basic materials company’s stock worth $650,000 after buying an additional 277 shares during the period. FNY Partners Fund LP increased its position in International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,250 shares during the period. Quadrant Capital Group LLC increased its position in International Paper by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after buying an additional 47 shares during the period. Finally, Ffcm LLC increased its position in International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares during the period. 83.68% of the stock is currently owned by institutional investors.
International Paper Company Profile
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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