International Paper (NYSE:IP) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of International Paper (NYSE:IP) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 31st. UBS Group decreased their target price on shares of International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday. BNP Paribas Exane upgraded International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, November 24th. Royal Bank Of Canada set a $55.00 price objective on International Paper and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus target price of $48.65.

International Paper Stock Performance

Shares of IP stock traded up $0.06 during mid-day trading on Monday, hitting $42.62. 1,525,954 shares of the stock were exchanged, compared to its average volume of 4,495,172. The stock’s fifty day simple moving average is $38.94 and its two-hundred day simple moving average is $44.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. International Paper has a 12-month low of $35.56 and a 12-month high of $60.15. The stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of -16.33, a P/E/G ratio of 0.48 and a beta of 1.10.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, analysts forecast that International Paper will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of International Paper

Several large investors have recently bought and sold shares of IP. Gentry Private Wealth LLC raised its stake in shares of International Paper by 2.1% during the 2nd quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock worth $438,000 after buying an additional 188 shares during the last quarter. Wright Investors Service Inc. raised its position in International Paper by 2.9% during the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 201 shares during the last quarter. Wellington Shields Capital Management LLC lifted its holdings in shares of International Paper by 7.0% in the second quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 226 shares in the last quarter. International Private Wealth Advisors LLC grew its position in shares of International Paper by 4.1% in the fourth 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 during the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its stake in shares of International Paper by 3.8% during the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds 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.