In a report issued on July 18, Paul Quinn from RBC Capital maintained a Hold rating on International Paper Co (IP – Research Report), with a price target of $47.00. The company’s shares closed last Wednesday at $42.94, close to its 52-week low of $40.21.
According to TipRanks.com, Quinn is a top 100 analyst with an average return of 21.8% and a 59.8% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, GreenFirst Forest Products, and West Fraser Timber Co.
Currently, the analyst consensus on International Paper Co is a Hold with an average price target of $47.63, implying a 12.3% upside from current levels. In a report issued on July 18, Wells Fargo also downgraded the stock to Hold with a $47.00 price target.
Based on International Paper Co’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.24 billion and net profit of $360 million. In comparison, last year the company earned revenue of $4.59 billion and had a net profit of $349 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. The Global Cellulose Fibers segment offers cellulose fibers product portfolio includes fluff, market, and specialty pulps. The Printing Papers segment includes manufacturing of the printing and writing papers. The company was founded by Hugh J. Chisholm in 1898 and is headquartered in Memphis, TN.
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