International Paper Co (NYSE:IP) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently weighed in on IP. Zacks Investment Research cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target (up previously from $65.00) on shares of International Paper in a report on Friday. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the stock from $60.00 to $64.00 in a report on Thursday. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Thursday, June 29th. Finally, BidaskClub raised shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. International Paper currently has a consensus rating of “Hold” and an average price target of $56.90.

International Paper (IP) traded up 0.03% during trading on Monday, reaching $58.17. The company’s stock had a trading volume of 1,618,468 shares. International Paper has a 12 month low of $43.55 and a 12 month high of $58.95. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 31.09 and a beta of 1.48. The stock’s 50 day moving average is $54.19 and its 200 day moving average is $53.16.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.44 billion. International Paper had a net margin of 2.92% and a return on equity of 18.80%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts expect that International Paper will post $3.63 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “International Paper Co (NYSE:IP) Lowered to Hold at ValuEngine” was published by Daily Political and is owned by of Daily Political. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2017/07/17/international-paper-co-nyseip-lowered-to-hold-at-valuengine.html.

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock valued at $1,888,138,000 after buying an additional 36,119,474 shares during the period. Wellington Management Group LLP raised its stake in shares of International Paper by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock valued at $1,845,965,000 after buying an additional 8,273,552 shares during the period. Vanguard Group Inc. raised its stake in shares of International Paper by 2.5% in the first quarter. Vanguard Group Inc. now owns 28,881,442 shares of the basic materials company’s stock valued at $1,466,599,000 after buying an additional 694,637 shares during the period. Bank of New York Mellon Corp raised its stake in shares of International Paper by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock valued at $324,455,000 after buying an additional 2,466,074 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of International Paper by 3.8% in the first quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after buying an additional 230,750 shares during the period. Institutional investors and hedge funds own 83.10% of the company’s stock.

About International Paper

International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Co and related companies with MarketBeat.com's FREE daily email newsletter.