International Paper (NYSE:IP) Rating Increased to Overweight at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded International Paper to “overweight” from “neutral” and raised its price target to $61 from $51, implying approximately 44% upside from the reported $42.33 share price.
• Analyst sentiment is generally positive, with International Paper carrying a consensus “Moderate Buy” rating and an average price target of $46.36; nine analysts rate it a Buy, four a Hold, and one a Sell.
• The company’s latest quarterly results missed estimates, reporting $0.15 in earnings per share versus $0.18 expected and revenue of $5.97 billion versus $6.02 billion forecast, while revenue still increased 13.4% year over year.

International Paper (NYSE:IP - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a $61.00 price target on the basic materials company's stock, up from their prior price target of $51.00. JPMorgan Chase & Co.'s price objective points to a potential upside of 44.11% from the company's current price.

A number of other analysts have also recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of International Paper from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. UBS Group reduced their target price on International Paper from $40.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Bank of America cut International Paper from a "buy" rating to a "neutral" rating and set a $41.00 target price for the company. in a research note on Tuesday, July 14th. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on International Paper in a report on Wednesday, April 1st. They set a "hold" rating and a $38.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.36.

International Paper Stock Up 0.4%

Shares of NYSE IP opened at $42.33 on Tuesday. International Paper has a 52-week low of $29.26 and a 52-week high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The stock has a market cap of $22.41 billion, a P/E ratio of -6.66 and a beta of 0.94. The firm has a 50 day moving average price of $35.92 and a 200 day moving average price of $37.98.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. Analysts expect that International Paper will post 1.39 EPS for the current year.

Insider Buying and Selling at International Paper

In related news, Director Scott Tozier acquired 10,000 shares of the firm's stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the acquisition, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently modified their holdings of IP. McIlrath & Eck LLC grew its position in shares of International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock worth $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of International Paper in the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors bought a new stake in shares of International Paper in the first quarter valued at approximately $28,000. DV Equities LLC bought a new stake in shares of International Paper in the fourth quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC grew its position in International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company's stock worth $31,000 after buying an additional 344 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.

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