International Paper (NYSE:IP) Stock Rating Upgraded by Wall Street Zen

International Paper (NYSE:IP) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on IP. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 price objective on shares of International Paper in a research report on Wednesday, August 12th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their target price on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. raised 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. Finally, Truist Financial restated a “buy” rating and set a $49.00 price target (up from $46.00) on shares of International Paper in a research note on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.13.

International Paper Stock Up 0.1%

Shares of NYSE:IP opened at $34.56 on Friday. International Paper has a 52-week low of $29.26 and a 52-week high of $50.25. The stock has a market cap of $18.30 billion, a P/E ratio of -5.30, a PEG ratio of 4.34 and a beta of 0.93. The business has a fifty day moving average of $38.89 and a two-hundred day moving average of $36.59. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $6 billion for 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 company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, research analysts expect that International Paper will post 1.33 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Hamic sold 24,500 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This trade represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Man Group plc acquired a new stake in shares of International Paper in the 2nd quarter worth approximately $24,640,000. D.A. Davidson & CO. lifted its stake in International Paper by 29.6% in the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company’s stock valued at $4,921,000 after buying an additional 31,518 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in International Paper during the 1st quarter valued at $2,615,000. HighTower Advisors LLC acquired a new stake in International Paper during the 2nd quarter valued at $1,603,000. Finally, Amundi purchased a new position in International Paper during the second quarter worth $82,666,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.