International Paper (NYSE:IP) Earns "Buy" Rating from Argus

Key Points

• Argus reaffirmed a “Buy” rating on International Paper with a $45 price target, implying approximately 28% upside. The stock has a “Moderate Buy” consensus rating and an average analyst target of $48.82.
• International Paper reported quarterly EPS of $0.04, exceeding the $0.04 loss analysts expected, while revenue fell 11.3% year over year to $6 billion.
• Institutional investors own nearly 82% of the company, with several major funds increasing their positions; meanwhile, two insiders recently sold shares.

International Paper (NYSE:IP - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Argus in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $45.00 price target on the basic materials company's stock. Argus' target price suggests a potential upside of 27.97% from the stock's current price.

Other analysts have also recently issued research reports about the company. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and set a $46.00 price objective for the company in a research report on Friday, September 11th. JPMorgan Chase & Co. boosted their price target on International Paper from $61.00 to $62.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Saturday, September 19th. Royal Bank Of Canada upped their price target on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, UBS Group lifted their price objective on shares of International Paper from $40.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $48.82.

International Paper Trading Up 0.8%

NYSE:IP opened at $35.17 on Thursday. The firm has a 50-day simple moving average of $38.76 and a 200-day simple moving average of $36.43. International Paper has a one year low of $29.26 and a one year high of $50.25. The firm has a market cap of $18.62 billion, a P/E ratio of -5.38, a P/E/G ratio of 4.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter last year, the firm earned $0.20 EPS. The business's revenue for the quarter was down 11.3% on a year-over-year basis. Equities analysts anticipate that International Paper will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other International Paper news, VP William Hamic sold 24,500 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares of the company's stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction that occurred 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State Street Corp raised its holdings in International Paper by 7.1% in the 2nd quarter. State Street Corp now owns 32,999,909 shares of the basic materials company's stock worth $1,257,297,000 after purchasing an additional 2,189,597 shares during the period. Anchor Investment Management LLC increased its position in shares of International Paper by 59.3% in the second quarter. Anchor Investment Management LLC now owns 1,437 shares of the basic materials company's stock valued at $55,000 after buying an additional 535 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of International Paper by 50.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company's stock worth $44,478,000 after buying an additional 389,092 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of International Paper by 21.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,358 shares of the basic materials company's stock valued at $852,000 after buying an additional 3,988 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in International Paper by 87.7% in the 2nd quarter. Tidal Investments LLC now owns 60,427 shares of the basic materials company's stock valued at $2,302,000 after acquiring an additional 28,236 shares during the period. 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.