International Paper (NYSE:IP) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of International Paper (NYSE:IP) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also weighed in on IP. Truist Financial decreased their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a report on Monday, October 13th. UBS Group decreased their price objective on shares of International Paper from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, October 6th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of International Paper in a report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $53.85.

International Paper Price Performance

International Paper stock opened at $47.94 on Friday. The firm has a 50-day moving average price of $47.16 and a 200-day moving average price of $47.82. The firm has a market capitalization of $25.31 billion, a PE ratio of -479.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper has a 12-month low of $43.27 and a 12-month high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper’s revenue was up 42.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. As a group, equities research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. International Paper’s dividend payout ratio is currently -1,850.00%.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several large investors have recently modified their holdings of the business. Gentry Private Wealth LLC raised its holdings in International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 188 shares in the last quarter. Wright Investors Service Inc. raised its holdings in International Paper by 2.9% in the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 201 shares in the last quarter. Greenleaf Trust raised its holdings in International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock valued at $493,000 after acquiring an additional 224 shares in the last quarter. Wellington Shields Capital Management LLC raised its holdings in International Paper by 7.0% in the second quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $162,000 after acquiring an additional 226 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock valued at $480,000 after acquiring an additional 231 shares in the last quarter. Institutional investors 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.