Barclays PLC reaffirmed their sell rating on shares of International Paper Company (NYSE:IP) in a research report report published on Wednesday. They currently have a $50.00 target price on the basic materials company’s stock.

IP has been the subject of a number of other research reports. Goldman Sachs Group, Inc. (The) upgraded International Paper from a neutral rating to a buy rating and raised their price objective for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Royal Bank Of Canada upgraded International Paper from a sector perform rating to an outperform rating and raised their price objective for the company from $50.00 to $56.00 in a research note on Wednesday, April 19th. BidaskClub upgraded International Paper from a hold rating to a buy rating in a research note on Friday, June 16th. Vertical Research restated a buy rating on shares of International Paper in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded International Paper from a hold rating to a buy rating and set a $64.00 price objective for the company in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. International Paper presently has an average rating of Hold and an average price target of $57.89.

International Paper (NYSE IP) traded up 0.50% during midday trading on Wednesday, reaching $53.93. The company had a trading volume of 1,647,921 shares. The firm has a market capitalization of $22.27 billion, a PE ratio of 28.84 and a beta of 1.46. International Paper has a 12 month low of $43.55 and a 12 month high of $58.95. The firm’s 50-day moving average price is $56.62 and its 200 day moving average price is $53.67.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm earned $0.92 EPS. International Paper’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that International Paper will post $3.47 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is 93.91%.

In related news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IP. BlackRock Inc. increased 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 last quarter. Wellington Management Group LLP increased 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 last quarter. Bank of New York Mellon Corp increased 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 last quarter. Iridian Asset Management LLC CT increased its stake in shares of International Paper by 149.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock valued at $190,213,000 after buying an additional 2,243,965 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of International Paper by 64.2% in the first quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock valued at $271,771,000 after buying an additional 2,098,824 shares during the last quarter. 83.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for International Paper (NYSE:IP)

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