International Paper Company (NYSE:IP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of International Paper Company (NYSE:IP) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.7250.

A number of research firms recently weighed in on IP. Citigroup reduced their price objective on shares of International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Weiss Ratings lowered International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. BNP Paribas Exane reduced their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Truist Financial lowered their price target on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of International Paper from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, May 1st.

Insider Transactions at International Paper

In related news, Director Anders Gustafsson bought 13,217 shares of International Paper stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $37.83 per share, with a total value of $499,999.11. Following the purchase, the director owned 26,092 shares in the company, valued at $987,060.36. This represents a 102.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Tozier bought 10,000 shares of the stock in a transaction on Friday, May 1st. The shares were bought at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 36,092 shares of company stock worth $1,313,064. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IP. Dynamic Technology Lab Private Ltd acquired a new stake in shares of International Paper during the first quarter worth $249,000. Intech Investment Management LLC increased its stake in International Paper by 100.5% in the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after purchasing an additional 16,055 shares during the last quarter. Cresset Asset Management LLC lifted its position in International Paper by 20.8% during the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after buying an additional 2,981 shares during the period. Jump Financial LLC boosted its stake in International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock worth $1,784,000 after buying an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in International Paper by 8.0% in the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after buying an additional 2,493 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 4.4%

Shares of International Paper stock traded down $1.39 during trading hours on Friday, hitting $30.21. The company had a trading volume of 6,547,178 shares, compared to its average volume of 7,932,891. The company’s 50-day moving average is $35.20 and its two-hundred day moving average is $39.12. International Paper has a twelve month low of $29.45 and a twelve month high of $56.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. The company has a market cap of $16.00 billion, a P/E ratio of -4.75 and a beta of 0.93.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. Analysts anticipate that International Paper will post 1.43 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 annualized dividend and a yield of 6.1%. International Paper’s payout ratio is currently -29.09%.

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.