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

Key Points

• International Paper was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a negative shift in sentiment towards the stock.
• Despite the downgrade, other analysts have varied opinions, with some upgrades to "hold" and "buy" ratings from firms like Zacks Research and Truist Financial, indicating mixed sentiment in the market.
• The company's recent earnings report showed a miss on EPS estimates at $0.20, compared to the consensus of $0.38, setting a cautious tone for future performance expectations.

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

IP has been the subject of a number of other research reports. Zacks Research upgraded shares of International Paper from a "strong sell" rating to a "hold" rating in a research note on Friday, October 10th. Seaport Res Ptn downgraded shares of International Paper from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Truist Financial cut their price objective on shares of International Paper from $55.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, October 13th. Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of International Paper in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $53.85.

International Paper Stock Up 0.1%

Shares of NYSE:IP opened at $46.69 on Friday. The stock has a market cap of $24.65 billion, a P/E ratio of -466.90, a P/E/G ratio of 0.57 and a beta of 1.10. The firm has a fifty day moving average price of $47.14 and a 200 day moving average price of $47.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm's revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Sell-side analysts predict that International Paper will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently modified their holdings of the company. Gentry Private Wealth LLC boosted its position in shares of International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company's stock worth $438,000 after acquiring an additional 188 shares during the last quarter. Wright Investors Service Inc. boosted its position in shares of International Paper by 2.9% in 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. Greenleaf Trust lifted its position in International Paper by 2.5% during the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after buying an additional 224 shares in the last quarter. Wellington Shields Capital Management LLC lifted its position in International Paper by 7.0% during 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 buying an additional 226 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after buying an additional 231 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

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