International Paper (NYSE:IP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Paper (NYSE:IP) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their price objective on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company increased their target price on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Bank of America downgraded International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 14th. Royal Bank Of Canada boosted their price target on International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $51.00 to $61.00 in a research note on Tuesday, July 28th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Stock Performance

NYSE:IP opened at $40.99 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The company has a fifty day moving average of $39.00 and a two-hundred day moving average of $37.90. The stock has a market capitalization of $21.71 billion, a PE ratio of -6.29 and a beta of 0.94. International Paper has a fifty-two week low of $29.26 and a fifty-two week high of $50.25.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. As a group, research analysts forecast that International Paper will post 1.34 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. International Paper’s dividend payout ratio (DPR) is -28.37%.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently bought and sold shares of the business. McIlrath & Eck LLC grew its stake in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in International Paper in the 4th quarter valued at about $25,000. Aberdeen Wealth Management LLC acquired a new stake in International Paper in the 2nd quarter valued at about $27,000. DV Equities LLC purchased a new position in shares of International Paper in the 4th quarter valued at about $29,000. Finally, Ascentis Independent Advisors acquired a new position in shares of International Paper during the first quarter worth about $28,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.