Wells Fargo & Company Cuts International Paper (NYSE:IP) Price Target to $45.00

International Paper (NYSE:IP) had its price target dropped by investment analysts at Wells Fargo & Company from $52.00 to $45.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 0.81% from the company’s previous close.

A number of other brokerages have also weighed in on IP. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Truist Financial reissued a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Finally, Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Trading Down 4.5 %

International Paper stock traded down $2.10 during trading hours on Tuesday, hitting $44.64. The stock had a trading volume of 7,550,729 shares, compared to its average volume of 9,425,922. The business’s 50 day simple moving average is $53.93 and its 200-day simple moving average is $53.83. International Paper has a one year low of $33.16 and a one year high of $60.36. The stock has a market cap of $23.49 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its 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 return on equity of 4.75% and a net margin of 2.99%. On average, equities analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Institutional Trading of International Paper

Several hedge funds have recently bought and sold shares of the stock. Sierra Ocean LLC purchased a new position in shares of International Paper in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper in the 4th quarter worth $26,000. Picton Mahoney Asset Management boosted its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

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.