International Paper (NYSE:IP) Price Target Lowered to $46.00 at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its target price dropped by JPMorgan Chase & Co. from $48.00 to $46.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 17.02% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. BNP Paribas upgraded International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Monday, November 24th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Wells Fargo & Company cut their target price on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, October 31st. Royal Bank Of Canada decreased their price target on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, Stifel Nicolaus set a $57.80 target price on shares of International Paper and gave the stock a “buy” rating in a report on Friday, October 17th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, International Paper presently has an average rating of “Hold” and an average target price of $50.44.

International Paper Price Performance

Shares of IP stock traded up $0.18 during mid-day trading on Friday, hitting $39.31. The company had a trading volume of 674,319 shares, compared to its average volume of 5,846,927. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. The stock’s 50 day moving average price is $42.16 and its 200-day moving average price is $46.28. International Paper has a 52-week low of $35.56 and a 52-week high of $60.15. The company has a market capitalization of $20.76 billion, a P/E ratio of -15.06, a P/E/G ratio of 1.23 and a beta of 1.09.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business’s revenue was up 56.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several hedge funds have recently bought and sold shares of the business. Rise Advisors LLC boosted its stake in shares of International Paper by 281.3% during the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. AlphaQuest LLC increased its position in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of International Paper during the second quarter worth approximately $33,000. Zions Bancorporation National Association UT bought a new stake in shares of International Paper during the first quarter valued at approximately $34,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of International Paper in the second quarter valued at approximately $35,000. 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.