International Paper (NYSE:IP) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of International Paper (NYSE:IP) from a hold rating to a sell rating in a research report released on Sunday.

IP has been the topic of several other research reports. JPMorgan Chase & Co. upgraded International Paper from a “neutral” rating to an “overweight” rating and upped their target price for the company from $51.00 to $61.00 in a research report on Tuesday, July 28th. Loop Capital set a $61.00 price target on International Paper in a research note on Tuesday, July 28th. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, May 1st. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company lifted their price objective on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $48.75.

International Paper Price Performance

IP stock opened at $41.55 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of -6.37 and a beta of 0.94. The company’s fifty day simple moving average is $37.79 and its 200 day simple moving average is $37.95. International Paper has a 12-month low of $29.26 and a 12-month high of $50.25.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the business posted $0.20 EPS. The business’s revenue was down 11.3% compared to the same quarter last year. On average, analysts expect that International Paper will post 1.38 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.5%. International Paper’s dividend payout ratio is presently -28.37%.

Insider Buying and Selling at International Paper

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 shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several hedge funds and other institutional investors have recently made changes to their positions in IP. Wealthfront Advisers LLC bought a new position in International Paper in the 2nd quarter valued at about $7,576,000. Meeder Advisory Services Inc. bought a new stake in International Paper during the 2nd quarter worth approximately $209,000. Citizens Financial Group Inc. RI bought a new stake in International Paper during the 2nd quarter worth approximately $511,000. BlackRock Inc. purchased a new stake in shares of International Paper in the second quarter worth approximately $1,940,896,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of International Paper in the second quarter worth approximately $252,000. 81.95% of the stock is owned by institutional investors.

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.