International Paper (NYSE:IP) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of International Paper (NYSE:IP) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

IP has been the subject of several other research reports. Citigroup dropped their price target on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Truist Financial cut their target price on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Stifel Nicolaus set a $57.80 price target on International Paper and gave the stock a “buy” rating in a research report on Friday, October 17th. Bank of America upgraded 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 research report on Thursday, August 28th. Finally, Royal Bank Of Canada decreased their target price on International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and four 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 an average target price of $50.67.

International Paper Stock Up 1.3%

Shares of NYSE:IP traded up $0.49 during midday trading on Monday, hitting $38.99. 1,182,507 shares of the stock were exchanged, compared to its average volume of 5,942,059. The business’s fifty day simple moving average is $45.12 and its two-hundred day simple moving average is $47.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper has a 52-week low of $35.79 and a 52-week high of $60.36. The company has a market capitalization of $20.59 billion, a PE ratio of -389.90, a P/E/G ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business’s revenue was up 56.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.7%. International Paper’s dividend payout ratio is currently -70.88%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On International Paper

Several large investors have recently modified their holdings of the stock. Rise Advisors LLC increased its position in shares of International Paper by 281.3% during the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after buying an additional 346 shares during the period. AlphaQuest LLC boosted its position in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of International Paper in the 2nd quarter worth $33,000. Zions Bancorporation National Association UT bought a new position in shares of International Paper during the 1st quarter worth approximately $34,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of International Paper in the 2nd quarter worth approximately $35,000. 81.95% of the stock is owned by institutional investors.

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.