Weiss Ratings Reaffirms Hold (C) Rating for International Paper (NYSE:IP)

Key Points

• Weiss Ratings has reaffirmed a hold (C) rating for International Paper (NYSE:IP) amidst mixed sentiments from various analysts.
• Bank of America upgraded the stock to a buy rating with a target price increase from $55.00 to $57.00, while other firms like BNP Paribas Exane decreased their target price and set an underperform rating.
• International Paper's latest earnings report showed an EPS of $0.20, falling short of analyst expectations, despite a 42.9% increase in quarterly revenue compared to the previous year.

International Paper (NYSE:IP - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

IP has been the topic of a number of other research reports. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and upped their target price for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Truist Financial decreased their target price on shares of International Paper from $55.00 to $53.00 and set a "buy" rating on the stock in a report on Monday. Jefferies Financial Group decreased their target price on shares of International Paper from $61.00 to $59.00 and set a "buy" rating on the stock in a report on Friday, September 26th. Seaport Res Ptn lowered shares of International Paper from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, BNP Paribas Exane decreased their target price on shares of International Paper from $42.10 to $40.40 and set an "underperform" rating on the stock in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $53.46.

International Paper Stock Performance

Shares of IP stock traded up $1.32 during trading on Tuesday, reaching $46.97. 925,275 shares of the company's stock traded hands, compared to its average volume of 5,964,167. The company has a market capitalization of $24.80 billion, a P/E ratio of -469.70, a PEG ratio of 0.52 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm's 50-day moving average is $47.17 and its 200 day moving average is $47.98. 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 announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS 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 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 business's quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities research analysts expect that International Paper will post 2.77 EPS for the current year.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares of the company's stock, valued at $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On International Paper

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of International Paper by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company's stock valued at $2,991,462,000 after purchasing an additional 1,255,650 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company's stock valued at $2,763,426,000 after purchasing an additional 4,201,422 shares in the last quarter. State Street Corp boosted its stake in shares of International Paper by 3.2% in the 2nd quarter. State Street Corp now owns 29,386,616 shares of the basic materials company's stock valued at $1,376,175,000 after purchasing an additional 902,741 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company's stock valued at $877,496,000 after purchasing an additional 1,592,411 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of International Paper by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company's stock valued at $622,133,000 after purchasing an additional 294,296 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

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.

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