International Paper (NYSE:IP) Price Target Cut to $43.00 by Analysts at Citigroup

International Paper (NYSE:IP) had its target price dropped by analysts at Citigroup from $45.00 to $43.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Citigroup‘s target price indicates a potential upside of 1.75% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Co reduced their price target on International Paper from $43.00 to $42.00 and set a “market perform” rating for the company in a research report on Tuesday, October 8th. UBS Group set a $50.00 price target on International Paper and gave the stock a “buy” rating in a research report on Monday, June 24th. ValuEngine downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. KeyCorp reaffirmed a “sell” rating and set a $38.00 price target on shares of International Paper in a research report on Thursday, July 25th. Finally, Stephens set a $50.00 price target on International Paper and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $45.20.

NYSE IP traded up $0.39 during trading hours on Thursday, reaching $42.26. 2,496,520 shares of the company’s stock were exchanged, compared to its average volume of 2,981,861. The company’s 50-day moving average is $40.54 and its two-hundred day moving average is $42.76. International Paper has a one year low of $36.45 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.53.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The business had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the prior year, the business earned $1.19 EPS. International Paper’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts predict that International Paper will post 4.45 earnings per share for the current fiscal year.

In other news, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $44.97, for a total value of $1,012,139.79. Following the completion of the sale, the senior vice president now owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Timothy S. Nicholls sold 45,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $42.44, for a total value of $1,909,800.00. Following the completion of the sale, the senior vice president now directly owns 60,490 shares of the company’s stock, valued at approximately $2,567,195.60. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IP. Invesco Ltd. boosted its holdings in shares of International Paper by 14.7% in the 2nd quarter. Invesco Ltd. now owns 16,419,542 shares of the basic materials company’s stock valued at $711,294,000 after buying an additional 2,104,748 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of International Paper by 958.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,320,436 shares of the basic materials company’s stock valued at $100,521,000 after buying an additional 2,101,278 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Paper by 5.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,820,470 shares of the basic materials company’s stock valued at $858,623,000 after buying an additional 1,061,362 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of International Paper by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 32,455,172 shares of the basic materials company’s stock valued at $1,405,959,000 after buying an additional 741,541 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of International Paper by 11.7% in the 2nd quarter. Schroder Investment Management Group now owns 4,560,494 shares of the basic materials company’s stock valued at $197,561,000 after buying an additional 476,899 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

International Paper Company Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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