International Paper Company (NYSE:IP)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research note issued on Friday, July 14th. They presently have a $66.00 target price on the basic materials company’s stock, up from their previous target price of $65.00. Jefferies Group LLC’s price objective would suggest a potential upside of 25.50% from the stock’s previous close. Jefferies Group also issued estimates for International Paper’s Q2 2017 earnings at $0.64 EPS, Q4 2017 earnings at $1.09 EPS and FY2017 earnings at $3.50 EPS.
Several other analysts have also recently commented on IP. Royal Bank Of Canada raised shares of International Paper from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $50.00 to $56.00 in a research note on Wednesday, April 19th. Citigroup Inc. restated a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG increased their price objective on shares of International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. Barclays PLC increased their price objective on shares of International Paper from $45.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, May 1st. Finally, BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.89.
Shares of International Paper (IP) opened at 52.59 on Friday. The firm has a market cap of $21.72 billion, a PE ratio of 26.71 and a beta of 1.46. International Paper has a one year low of $43.55 and a one year high of $58.95. The firm’s 50-day moving average price is $56.00 and its 200-day moving average price is $53.67.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. International Paper’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts expect that International Paper will post $3.47 earnings per share for the current fiscal year.
In related news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP increased its position in International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,250 shares during the period. Ffcm LLC increased its position in International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares during the period. Asset Advisors Corp increased its position in International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after buying an additional 84 shares during the period. Hefty Wealth Partners increased its position in International Paper by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock worth $160,000 after buying an additional 3,098 shares during the period. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in International Paper during the first quarter worth $172,000. 83.04% of the stock is owned by institutional investors and hedge funds.
International Paper Company Profile
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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