International Paper (NYSE:IP) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded International Paper from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $48.75.
• International Paper reported quarterly EPS of $0.04, beating estimates of a $0.04 loss, but revenue fell 11.3% year over year to $6 billion and the company posted a negative net margin.
• The stock opened at $41.55, while an International Paper chief accounting officer sold 3,500 shares; institutional investors own approximately 81.95% of the company.

International Paper (NYSE:IP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday.

IP has been the subject of a number of other reports. Truist Financial restated a "buy" rating and issued a $49.00 target price (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Citigroup raised their target price on International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a report on Friday, July 31st. Royal Bank Of Canada lifted their price target on shares of International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Bank of America lowered International Paper from a "buy" rating to a "neutral" rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 14th. Finally, Seaport Research Partners upgraded shares of International Paper from a "neutral" rating to a "buy" rating and set a $39.00 target price on the stock in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.75.

International Paper Price Performance

NYSE:IP opened at $41.55 on Friday. International Paper has a 12-month low of $29.26 and a 12-month high of $50.25. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of -6.37 and a beta of 0.94. The company's 50-day moving average is $37.79 and its two-hundred day moving average is $37.99. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company's quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Research analysts expect that International Paper will post 1.38 EPS for the current year.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC boosted its holdings in shares of International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of International Paper during the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new stake in International Paper during the 1st quarter valued at $28,000. DV Equities LLC acquired a new position in International Paper during the fourth quarter valued at $29,000. Finally, Sound Income Strategies LLC lifted its position in shares of International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company's stock worth $31,000 after purchasing an additional 344 shares in the last quarter. Institutional investors 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.

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