ValuEngine downgraded shares of International Paper Company (NYSE:IP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

IP has been the subject of several other research reports. Zacks Investment Research downgraded shares of International Paper from a hold rating to a sell rating in a research note on Tuesday, September 26th. Barclays PLC boosted their price objective on shares of International Paper from $50.00 to $52.00 and gave the company an underweight rating in a research note on Monday, October 30th. Vertical Research reaffirmed a buy rating on shares of International Paper in a research note on Friday, July 28th. Credit Suisse Group boosted their price objective on shares of International Paper from $63.00 to $66.00 and gave the company a neutral rating in a research note on Friday, October 27th. Finally, KeyCorp reaffirmed a hold rating on shares of International Paper in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $61.73.

International Paper (NYSE:IP) traded up $0.18 on Wednesday, hitting $54.07. 1,982,726 shares of the stock traded hands, compared to its average volume of 2,355,175. The stock has a market capitalization of $22,330.00, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 1.63 and a beta of 1.47. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.48 and a quick ratio of 0.97. International Paper has a 52-week low of $47.72 and a 52-week high of $58.96.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. research analysts expect that International Paper will post 3.5 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.51%. International Paper’s payout ratio is presently 87.56%.

A number of institutional investors have recently made changes to their positions in IP. BlackRock Inc. lifted its position in International Paper by 4.4% during the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares during the last quarter. Iridian Asset Management LLC CT lifted its position in International Paper by 42.6% during the second quarter. Iridian Asset Management LLC CT now owns 5,342,050 shares of the basic materials company’s stock valued at $302,413,000 after purchasing an additional 1,596,230 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in International Paper during the second quarter valued at approximately $82,229,000. First Eagle Investment Management LLC lifted its position in International Paper by 114.8% during the second quarter. First Eagle Investment Management LLC now owns 2,162,979 shares of the basic materials company’s stock valued at $122,446,000 after purchasing an additional 1,156,003 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in International Paper by 103.9% during the second quarter. Parametric Portfolio Associates LLC now owns 1,916,057 shares of the basic materials company’s stock valued at $108,468,000 after purchasing an additional 976,180 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

International Paper Company Profile

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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