International Paper (NYSE:IP) Given New $37.00 Price Target at Morgan Stanley

International Paper (NYSE:IP) had its target price boosted by Morgan Stanley from $29.00 to $37.00 in a research note issued to investors on Monday morning, AR Network reports. Morgan Stanley currently has an underweight rating on the basic materials company’s stock.

Several other equities analysts also recently commented on the company. BMO Capital Markets upgraded International Paper from a market perform rating to an outperform rating and increased their target price for the company from $40.00 to $53.00 in a research report on Monday, October 12th. Argus downgraded International Paper from a buy rating to a hold rating in a research report on Friday, August 21st. BofA Securities upgraded International Paper from a neutral rating to a buy rating in a research report on Thursday, July 16th. DA Davidson restated a buy rating on shares of International Paper in a research report on Friday, July 31st. Finally, Bank of America raised their price objective on International Paper from $46.00 to $49.00 and gave the stock a buy rating in a research report on Tuesday, September 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $44.85.

International Paper stock opened at $45.29 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.55 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $17.80 billion, a PE ratio of 28.31 and a beta of 1.17. International Paper has a 12 month low of $26.38 and a 12 month high of $47.64. The stock has a 50-day moving average price of $42.14 and a two-hundred day moving average price of $36.70.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.39 by $0.38. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.97 billion. International Paper had a return on equity of 19.18% and a net margin of 2.98%. The business’s quarterly revenue was down 14.1% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. As a group, analysts predict that International Paper will post 2.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a dividend of $0.5125 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.05 annualized dividend and a yield of 4.53%. International Paper’s dividend payout ratio is currently 46.28%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its stake in International Paper by 22.9% during the third quarter. Financial Management Professionals Inc. now owns 1,436 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 268 shares during the period. State of Michigan Retirement System grew its stake in International Paper by 7.3% in the third quarter. State of Michigan Retirement System now owns 107,669 shares of the basic materials company’s stock valued at $4,365,000 after acquiring an additional 7,300 shares during the period. Empirical Finance LLC grew its stake in International Paper by 88.2% in the third quarter. Empirical Finance LLC now owns 55,764 shares of the basic materials company’s stock valued at $2,332,000 after acquiring an additional 26,137 shares during the period. Xponance Inc. grew its stake in International Paper by 875.6% in the third quarter. Xponance Inc. now owns 157,255 shares of the basic materials company’s stock valued at $6,375,000 after acquiring an additional 141,136 shares during the period. Finally, Bradley Foster & Sargent Inc. CT acquired a new stake in International Paper in the third quarter valued at approximately $490,000. 80.97% of the stock is owned by institutional investors and hedge funds.

International Paper Company Profile

International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and the Americas. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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