Zacks Research Upgrades International Paper (NYSE:IP) to Hold

International Paper (NYSE:IP) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Citigroup increased their target price on International Paper from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on International Paper from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price target on shares of International Paper from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Bank of America downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Tuesday. Finally, BNP Paribas Exane decreased their target price on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.89.

International Paper Price Performance

Shares of IP opened at $36.51 on Monday. The company has a 50 day moving average price of $34.79 and a 200-day moving average price of $38.08. International Paper has a fifty-two week low of $29.26 and a fifty-two week high of $56.13. The stock has a market capitalization of $19.33 billion, a PE ratio of -5.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Equities analysts predict that International Paper will post 1.38 earnings per share for the current fiscal year.

Insider Activity at International Paper

In related news, Director Scott Tozier acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the acquisition, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its holdings in shares of International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares in the last quarter. Rothschild Investment LLC lifted its position in International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 242 shares during the period. International Private Wealth Advisors LLC boosted its stake in International Paper by 4.1% during the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 243 shares in the last quarter. Independent Advisor Alliance increased its position in shares of International Paper by 3.3% during the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 244 shares during the period. Finally, Horizon Investments LLC raised its stake in shares of International Paper by 3.3% in the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock worth $333,000 after buying an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

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.