International Paper Co Receives a New Rating from Top Analyst

By Austin Angelo

RBC Capital analyst Paul Quinn upgraded International Paper Co (NYSE: IP) to Buy today and set a price target of $56. The company’s shares closed yesterday at $51.45.

According to TipRanks.com, Quinn is a top 25 analyst with an average return of 20.9% and a 78.7% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, Meadwestvaco Corp, and Clearwater Paper.

Currently, the analyst consensus on International Paper Co is Moderate Buy and the average price target is $57, representing a 10.8% upside.

In a report issued on April 12, Jefferies also reiterated a Buy rating on the stock with a $63 price target.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. Last month, Michael Amick, the SVP-NA Papers Pulp & Con Pkg of IP sold 10,351 shares for a total of $532,662.

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 manufacturing of paper and packaging products business. It operates through the following segments: Industrial Packaging, Printing Papers, and Consumer Packaging. The Industrial Packaging segment engages in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. The Printing Papers segment engages in the manufacturing of printing and writing papers. It operates in two lines of business Uncoated and Coated papers and Market pulp and Uncoated Bristols. The Consumer Packaging segment manufactures solid bleached sulfate board. Its coated paperboard business produces coated paperboard for a variety of packaging and commercial printing end uses. The company was founded by Hugh J. Chisholm in 1898 and is headquartered in Memphis, TN.