International Paper (NYSE:IP) Upgraded by Wall Street Zen to "Hold" Rating

Wall Street Zen upgraded shares of International Paper (NYSE:IP - Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Several other research firms have also weighed in on IP. UBS Group initiated coverage on International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.54.

International Paper Trading Up 2.0%

IP traded up $0.94 during midday trading on Friday, hitting $47.45. 4,305,535 shares of the company were exchanged, compared to its average volume of 3,647,097. The firm has a market capitalization of $25.05 billion, a P/E ratio of 40.56, a P/E/G ratio of 0.43 and a beta of 1.04. International Paper has a 1-year low of $42.26 and a 1-year high of $60.36. The firm's 50 day moving average price is $47.05 and its 200-day moving average price is $51.33. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio is currently 158.12%.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AG2R LA Mondiale Gestion D Actifs bought a new stake in International Paper during the 1st quarter valued at $1,217,000. Voya Investment Management LLC increased its holdings in shares of International Paper by 8.3% in the first quarter. Voya Investment Management LLC now owns 158,499 shares of the basic materials company's stock worth $8,456,000 after purchasing an additional 12,129 shares during the period. Lynx Investment Advisory increased its holdings in shares of International Paper by 3.4% in the first quarter. Lynx Investment Advisory now owns 9,446 shares of the basic materials company's stock worth $504,000 after purchasing an additional 310 shares during the period. Inspire Investing LLC increased its holdings in shares of International Paper by 28.2% in the first quarter. Inspire Investing LLC now owns 8,386 shares of the basic materials company's stock worth $447,000 after purchasing an additional 1,845 shares during the period. Finally, Strs Ohio bought a new position in shares of International Paper in the first quarter worth $12,192,000. Institutional investors own 81.95% of the company's stock.

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.