Bank of America Securities Sticks to Its Buy Rating for International Paper Co (IP)

Bank of America Securities analyst George Staphos reiterated a Buy rating on International Paper Co yesterday and set a price target of $53.00.

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Staphos covers the Consumer Cyclical sector, focusing on stocks such as Packaging, International Paper Co, and Sonoco Products. According to TipRanks, Staphos has an average return of 4.7% and a 53.17% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for International Paper Co with a $47.56 average price target.

Based on International Paper Co’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.01 billion and a GAAP net loss of $2.38 billion. In comparison, last year the company earned a revenue of $4.58 billion and had a GAAP net loss of $147 million

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IP in relation to earlier this year. Earlier this month, Christopher Connor, a Director at IP bought 25,000.00 shares for a total of $1,009,250.00.