International Paper (NYSE:IP) Lowered to Strong Sell Rating by Zacks Research

International Paper (NYSE:IP) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on IP. Argus dropped their price target on International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. UBS Group decreased their target price on International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday. Stifel Nicolaus set a $57.80 target price on International Paper and gave the company a “buy” rating in a report on Friday, October 17th. Finally, BNP Paribas Exane raised International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Monday, November 24th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.65.

International Paper Price Performance

IP opened at $42.56 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. International Paper has a 1-year low of $35.56 and a 1-year high of $60.15. The company has a 50-day moving average of $38.94 and a 200-day moving average of $44.76. The company has a market capitalization of $22.47 billion, a P/E ratio of -16.31, a PEG ratio of 0.48 and a beta of 1.10.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. Equities analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Clay R. Ellis sold 18,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently modified their holdings of IP. Vanguard Group Inc. increased its position in shares of International Paper by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 64,047,079 shares of the basic materials company’s stock valued at $2,971,784,000 after purchasing an additional 167,889 shares during the period. Capital Research Global Investors grew its holdings in International Paper by 7.5% during the third quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock worth $2,520,945,000 after acquiring an additional 3,768,772 shares during the period. Capital International Investors grew its holdings in International Paper by 51.4% during the third quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock worth $2,272,966,000 after acquiring an additional 16,622,062 shares during the period. State Street Corp raised its position in International Paper by 0.8% in the third quarter. State Street Corp now owns 29,612,060 shares of the basic materials company’s stock worth $1,374,000,000 after acquiring an additional 225,444 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 acquiring an additional 1,592,411 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.