International Paper (NYSE:IP) Earns “Hold (C)” Rating from Weiss Ratings

International Paper (NYSE:IP)‘s stock had its “hold (c)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on IP. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. cut International Paper from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, UBS Group cut their target price on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Hold” and an average target price of $53.46.

International Paper Stock Up 0.6%

Shares of NYSE IP opened at $46.93 on Tuesday. The company has a market capitalization of $24.78 billion, a price-to-earnings ratio of -469.30, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The business has a 50-day moving average of $47.19 and a two-hundred day moving average of $47.97. International Paper has a 1 year low of $43.27 and a 1 year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm’s quarterly revenue was up 42.9% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. On average, analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in International Paper by 6.4% in the 1st quarter. GAMMA Investing LLC now owns 5,425 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 327 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in International Paper by 37.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company’s stock valued at $1,194,000 after purchasing an additional 6,077 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in International Paper by 22.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,691 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 312 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in International Paper in the 1st quarter valued at approximately $223,000. Finally, Grove Bank & Trust boosted its holdings in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.