Wall Street Zen Upgrades International Paper (NYSE:IP) to “Hold”

International Paper (NYSE:IP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

IP has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of International Paper from $62.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. UBS Group reduced their target price on shares of International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Truist Financial reissued a “buy” rating and set a $39.00 price target (down from $41.00) on shares of International Paper in a report on Thursday, October 29th. Finally, Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Stock Performance

Shares of IP stock opened at $34.54 on Friday. The stock’s 50-day moving average price is $34.38 and its 200 day moving average price is $37.24. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $18.29 billion, a PE ratio of -5.27, a price-to-earnings-growth ratio of 5.06 and a beta of 0.97. International Paper has a 52-week low of $29.26 and a 52-week high of $50.25.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned ($0.43) EPS. As a group, equities research analysts forecast that International Paper will post 1.14 EPS for the current year.

Institutional Trading of International Paper

A number of institutional investors have recently added to or reduced their stakes in IP. McKinney Capital Management LLC bought a new stake in International Paper in the 3rd quarter valued at about $1,268,000. Aberdeen Group plc bought a new position in International Paper in the 3rd quarter worth about $3,708,000. Allworth Financial LP grew its position in International Paper by 12.2% in the 3rd quarter. Allworth Financial LP now owns 13,846 shares of the basic materials company’s stock worth $459,000 after purchasing an additional 1,510 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of International Paper in the third quarter valued at approximately $21,278,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of International Paper in the third quarter valued at approximately $10,713,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.