International Paper (NYSE:IP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Paper (NYSE:IP) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other analysts also recently issued reports on the company. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Friday, September 11th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Citigroup lifted their target price on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. UBS Group boosted their price target on International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and upped their price target for the company from $51.00 to $61.00 in a report on Tuesday, July 28th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.13.

International Paper Trading Up 2.3%

NYSE IP opened at $35.33 on Friday. International Paper has a 1-year low of $29.26 and a 1-year high of $50.25. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $18.71 billion, a PE ratio of -5.42, a price-to-earnings-growth ratio of 4.34 and a beta of 0.93. The firm’s fifty day simple moving average is $38.86 and its 200-day simple moving average is $36.55.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, sell-side analysts anticipate that International Paper will post 1.33 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.2%. International Paper’s dividend payout ratio (DPR) is -28.37%.

Insider Activity

In other International Paper news, VP William Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC grew its holdings in shares of International Paper by 59.3% during the second quarter. Anchor Investment Management LLC now owns 1,437 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 535 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of International Paper by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock valued at $44,478,000 after buying an additional 389,092 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in International Paper by 21.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,358 shares of the basic materials company’s stock worth $852,000 after buying an additional 3,988 shares in the last quarter. Tidal Investments LLC lifted its position in International Paper by 87.7% during the 2nd quarter. Tidal Investments LLC now owns 60,427 shares of the basic materials company’s stock worth $2,302,000 after buying an additional 28,236 shares in the last quarter. Finally, National Pension Service grew its holdings in International Paper by 34.5% during the 2nd quarter. National Pension Service now owns 42,005 shares of the basic materials company’s stock worth $1,600,000 after acquiring an additional 10,781 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper Company (NYSE: IP) is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.