Vetr Inc. Upgrades International Paper Co. (IP) to Strong-Buy
International Paper Co. (NYSE:IP) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm currently has a $51.66 price objective on the stock. Vetr‘s price target would indicate a potential upside of 11.36% from the company’s current price.
A number of other research firms also recently commented on IP. Credit Agricole SA upped their price objective on International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $42.00 price objective on shares of International Paper in a report on Wednesday, August 31st. Citigroup Inc. upped their price objective on International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, August 31st. Goldman Sachs Group Inc. assumed coverage on International Paper in a report on Thursday, September 22nd. They issued a “neutral” rating and a $49.00 price target for the company. Finally, Zacks Investment Research upgraded International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 price target for the company in a report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.71.
International Paper (NYSE:IP) opened at 46.39 on Tuesday. The company has a 50 day moving average price of $47.98 and a 200-day moving average price of $44.32. The company has a market capitalization of $19.08 billion, a P/E ratio of 25.13 and a beta of 1.55. International Paper has a 52 week low of $32.50 and a 52 week high of $49.90.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The firm’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, equities analysts anticipate that International Paper will post $3.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, November 10th. This is a boost from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 3.99%. International Paper’s dividend payout ratio is 94.12%.
In other news, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total value of $478,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carol L. Roberts sold 12,256 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.20, for a total value of $566,227.20. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Pacific Global Investment Management CO boosted its stake in International Paper by 9.1% in the first quarter. Pacific Global Investment Management CO now owns 9,672 shares of the company’s stock worth $397,000 after buying an additional 806 shares during the last quarter. Scotia Capital Inc. acquired a new stake in International Paper during the first quarter worth about $287,000. Sasco Capital Inc. CT boosted its stake in International Paper by 4.9% in the first quarter. Sasco Capital Inc. CT now owns 3,626,867 shares of the company’s stock worth $148,847,000 after buying an additional 169,756 shares during the last quarter. BB&T Securities LLC boosted its stake in International Paper by 2.7% in the first quarter. BB&T Securities LLC now owns 23,074 shares of the company’s stock worth $946,000 after buying an additional 616 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in International Paper by 17.9% in the first quarter. Canada Pension Plan Investment Board now owns 703,064 shares of the company’s stock worth $28,854,000 after buying an additional 106,907 shares during the last quarter. 81.72% of the stock is owned by institutional investors.
International Paper Company Profile
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
To view Vetr’s full report, visit Vetr’s official website.
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