Wells Fargo Remains a Hold on International Paper Co (IP)

In a report released yesterday, Gabrial Hajde from Wells Fargo maintained a Hold rating on International Paper Co, with a price target of $38.00. The company’s shares closed yesterday at $33.76.

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According to TipRanks, Hajde is a 4-star analyst with an average return of 2.8% and a 56.15% success rate. Hajde covers the Consumer Cyclical sector, focusing on stocks such as O-I Glass, Ball, and Graphic Packaging.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for International Paper Co with a $47.71 average price target, representing a 41.32% upside. In a report released yesterday, TipRanks – OpenAI also reiterated a Hold rating on the stock with a $36.00 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 33 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. Last month, Christopher Connor, a Director at IP bought 25,000.00 shares for a total of $1,009,250.00.