International Paper (NYSE:IP) Downgraded by JPMorgan Chase & Co. to Neutral

Key Points

• International Paper was downgraded from an "overweight" to a "neutral" rating by JPMorgan Chase & Co., which set a price target of $54.00 for the stock.
• The company's shares opened at $46.04 and experienced a 0.8% decline, with a market capitalization of $24.30 billion.
• International Paper reported $0.20 earnings per share for the last quarter, missing expectations and reflecting a year-over-year revenue increase of 42.9%.

International Paper (NYSE:IP - Get Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $54.00 price objective on the basic materials company's stock, down from their previous price objective of $55.00. JPMorgan Chase & Co.'s target price suggests a potential upside of 12.15% from the stock's previous close.

IP has been the subject of several other research reports. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $55.03.

International Paper Stock Up 3.9%

NYSE:IP traded up $1.82 on Tuesday, hitting $48.15. The stock had a trading volume of 3,358,795 shares, compared to its average volume of 5,396,296. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock has a market cap of $25.42 billion, a P/E ratio of -481.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. International Paper has a 1 year low of $43.27 and a 1 year high of $60.36. The firm's fifty day simple moving average is $49.11 and its two-hundred day simple moving average is $50.55.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IP. Rise Advisors LLC grew its position in shares of International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. AlphaQuest LLC grew its position in shares of International Paper by 63,400.0% during the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of International Paper during the 2nd quarter valued at $33,000. Zions Bancorporation National Association UT bought a new stake in shares of International Paper during the 1st quarter worth $34,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the 4th quarter worth $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Company Profile

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.