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

by · The Markets Daily

Wall Street Zen upgraded shares of International Paper (NYSE:IP – Free Report) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also commented on IP. Citigroup raised their price objective on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wells Fargo & Company increased their target price on shares of International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. UBS Group raised their price target on shares of International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Friday, September 11th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.13.

Read Our Latest Analysis on IP

International Paper Stock Performance

NYSE:IP opened at $34.56 on Friday. The business’s fifty day moving average is $38.89 and its 200 day moving average is $36.64. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of -5.30, a PEG ratio of 4.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper has a 52-week low of $29.26 and a 52-week high of $50.25.

International Paper (NYSE:IP – Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. Research analysts predict that International Paper will post 1.33 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Friday, August 14th. International Paper’s dividend payout ratio is -28.37%.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on 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 sale, the vice president owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Institutional Trading of International Paper

Hedge funds have recently made changes to their positions in the stock. Capital International Investors raised its position in International Paper by 29.4% during the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after purchasing an additional 14,422,616 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of International Paper by 0.4% in the 4th quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock worth $2,148,154,000 after purchasing an additional 204,654 shares in the last quarter. BlackRock Inc. bought a new position in shares of International Paper during the 2nd quarter valued at about $1,940,896,000. Bank of New York Mellon Corp bought a new position in shares of International Paper during the 2nd quarter valued at about $689,498,000. Finally, Franklin Resources Inc. raised its holdings in shares of International Paper by 81.6% during the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after buying an additional 6,663,986 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

About International Paper

(Get Free Report)

International Paper Company (NYSE: IP) is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.

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