International Paper Company (NYSE:IP) was upgraded by research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The firm presently has a $64.00 price target on the basic materials company’s stock, up from their previous price target of $60.00. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential upside of 10.06% from the stock’s current price.

Other research analysts have also issued reports about the company. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price target on shares of International Paper in a research report on Wednesday, April 12th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, July 11th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research report on Thursday, June 29th. Finally, Deutsche Bank AG upped their target price on International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.90.

International Paper (NYSE IP) traded up 0.136% during midday trading on Thursday, hitting $58.229. The stock had a trading volume of 492,392 shares. International Paper has a 52-week low of $43.55 and a 52-week high of $58.95. The company’s 50 day moving average price is $54.19 and its 200-day moving average price is $53.16. The stock has a market cap of $24.04 billion, a PE ratio of 31.122 and a beta of 1.48.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 27th. The basic materials company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.44 billion. International Paper had a return on equity of 30.44% and a net margin of 3.63%. International Paper’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Analysts forecast that International Paper will post $3.63 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “International Paper Company (NYSE:IP) Rating Increased to Buy at Goldman Sachs Group, Inc. (The)” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.watchlistnews.com/international-paper-company-nyseip-rating-increased-to-buy-at-goldman-sachs-group-inc-the/1445507.html.

Several hedge funds have recently modified their holdings of IP. Hefty Wealth Partners increased its stake in shares of International Paper by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock worth $160,000 after buying an additional 3,098 shares during the last quarter. Trust Co increased its stake in shares of International Paper by 3.0% in the fourth quarter. Trust Co now owns 6,432 shares of the basic materials company’s stock worth $341,000 after buying an additional 190 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in shares of International Paper by 10.1% in the first quarter. Manning & Napier Advisors LLC now owns 70,924 shares of the basic materials company’s stock worth $3,601,000 after buying an additional 6,505 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of International Paper by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 355,123 shares of the basic materials company’s stock worth $18,033,000 after buying an additional 10,901 shares during the last quarter. Finally, Park National Corp OH increased its stake in shares of International Paper by 7.0% in the first quarter. Park National Corp OH now owns 5,849 shares of the basic materials company’s stock worth $297,000 after buying an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 83.10% of the company’s stock.

International Paper Company Profile

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Analyst Recommendations for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Company and related companies with Analyst Ratings Network's FREE daily email newsletter.