International Paper (NYSE:IP) Now Covered by UBS Group


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Equities research analysts at UBS Group began coverage on shares of International Paper (NYSE:IP) in a research report issued to clients and investors on Tuesday, AR Network reports. The brokerage set a “sell” rating and a $40.00 price target on the basic materials company’s stock. UBS Group’s price target suggests a potential downside of 21.26% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of International Paper from a “neutral” rating to a “buy” rating in a report on Monday, November 16th. KeyCorp raised their price target on shares of International Paper from $31.00 to $36.00 and gave the stock an “underweight” rating in a research report on Friday, October 30th. Morgan Stanley raised their price target on shares of International Paper from $37.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research report on Wednesday, September 30th. Finally, Jefferies Financial Group began coverage on shares of International Paper in a research report on Tuesday, January 5th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.60.

IP stock opened at $50.80 on Tuesday. The company has a market capitalization of $19.97 billion, a PE ratio of 40.64 and a beta of 1.13. International Paper has a 12 month low of $26.38 and a 12 month high of $53.39. The firm’s 50-day moving average is $49.94 and its 200 day moving average is $42.62. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.09.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.23. International Paper had a net margin of 2.37% and a return on equity of 17.27%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the firm posted $1.09 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts forecast that International Paper will post 2.86 EPS for the current fiscal year.

In other news, SVP Sharon R. Ryan sold 30,000 shares of the business’s stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $48.30, for a total transaction of $1,449,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gregory T. Wanta sold 7,500 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $47.93, for a total transaction of $359,475.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,127 shares of company stock worth $2,430,825. 0.37% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Sound Shore Management Inc CT purchased a new stake in shares of International Paper during the third quarter worth approximately $70,604,000. Charles Schwab Investment Management Inc. raised its position in International Paper by 44.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,143,579 shares of the basic materials company’s stock worth $181,106,000 after acquiring an additional 1,579,459 shares in the last quarter. Morgan Stanley raised its position in International Paper by 32.0% in the third quarter. Morgan Stanley now owns 2,648,141 shares of the basic materials company’s stock worth $107,356,000 after acquiring an additional 641,405 shares in the last quarter. Ninety One UK Ltd purchased a new position in International Paper in the third quarter worth $15,248,000. Finally, Cibc World Markets Corp raised its position in International Paper by 949.3% in the third quarter. Cibc World Markets Corp now owns 404,966 shares of the basic materials company’s stock worth $16,417,000 after acquiring an additional 366,373 shares in the last quarter. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and the Americas. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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