International Paper (NYSE:IP) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded International Paper from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $48.75 average price target.
• International Paper reported quarterly EPS of $0.04, beating the expected loss of $0.04, but revenue fell 11.3% year over year to $6 billion, below analyst estimates.
• The stock opened at $40.73, with a 52-week range of $29.26 to $50.25; two company insiders recently sold shares, while institutional investors own 81.95% of the stock.

International Paper (NYSE:IP - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Royal Bank Of Canada lifted their target price on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Seaport Research Partners reissued a "buy" rating and issued a $46.00 target price on shares of International Paper in a research note on Wednesday. Bank of America lowered shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on shares of International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Nine 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 data from MarketBeat, International Paper presently has an average rating of "Moderate Buy" and a consensus price target of $48.75.

International Paper Stock Performance

IP opened at $40.73 on Monday. The stock has a market cap of $21.57 billion, a PE ratio of -6.25 and a beta of 0.94. 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 has a 1 year low of $29.26 and a 1 year high of $50.25. The stock's 50 day simple moving average is $38.54 and its 200-day simple moving average is $37.91.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping 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 firm had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.19 billion. During the same period last year, the business earned $0.20 earnings per share. International Paper's quarterly revenue was down 11.3% compared to the same quarter last year. Sell-side analysts forecast that International Paper will post 1.34 EPS for the current year.

Insider Activity at International Paper

In other news, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction 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 sale, the vice president directly owned 106,952 shares of the company's stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the business's stock in a transaction 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 owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On International Paper

Several hedge funds have recently added to or reduced their stakes in IP. MCF Advisors LLC lifted its position in International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 229 shares during the period. Rothschild Investment LLC grew its position in shares of International Paper by 4.2% during the 4th quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock worth $236,000 after buying an additional 242 shares during the period. Independent Advisor Alliance raised its stake in shares of International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock worth $305,000 after buying an additional 244 shares during the last quarter. Horizon Investments LLC raised its stake in shares of International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock worth $333,000 after buying an additional 267 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in International Paper by 1.3% in the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company's stock valued at $853,000 after buying an additional 298 shares during the period. Institutional investors own 81.95% of the company's stock.

International Paper Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source