International Paper (NYSE:IP) Raised to Buy at StockNews.com

International Paper (NYSE:IP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

IP has been the subject of a number of other research reports. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday. They issued an “overweight” rating and a $59.00 price target for the company. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Stock Down 0.8 %

IP traded down $0.44 on Thursday, hitting $52.18. 6,445,566 shares of the company were exchanged, compared to its average volume of 9,840,662. The stock’s fifty day moving average is $55.02 and its 200-day moving average is $53.40. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The company has a market cap of $27.45 billion, a PE ratio of 33.24, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities research analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently modified their holdings of IP. Brooklyn Investment Group bought a new position in International Paper during the third quarter worth about $25,000. Sierra Ocean LLC acquired a new position in shares of International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper during the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the third quarter valued at approximately $28,000. Finally, Picton Mahoney Asset Management boosted its stake in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.