International Paper’s (IP) “Outperform” Rating Reiterated at Wells Fargo & Co

International Paper (NYSE:IP)‘s stock had its “outperform” rating reissued by investment analysts at Wells Fargo & Co in a note issued to investors on Monday, The Fly reports. They presently have a $70.00 price target on the basic materials company’s stock, up from their prior price target of $65.00. Wells Fargo & Co’s price objective would suggest a potential upside of 13.60% from the company’s previous close.

A number of other brokerages also recently issued reports on IP. KeyCorp reiterated a “hold” rating on shares of International Paper in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. BMO Capital Markets reiterated a “buy” rating and set a $62.00 price target on shares of International Paper in a research report on Friday, November 24th. Royal Bank of Canada restated a “buy” rating and issued a $65.00 target price on shares of International Paper in a research report on Monday, October 23rd. Finally, Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $62.75.

Shares of International Paper (IP) traded up $0.13 during mid-day trading on Monday, reaching $61.62. The company’s stock had a trading volume of 1,130,318 shares, compared to its average volume of 2,524,650. The stock has a market capitalization of $25,440.00, a P/E ratio of 28.40, a P/E/G ratio of 1.45 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. International Paper has a 52 week low of $49.60 and a 52 week high of $62.44.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. International Paper’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. equities research analysts anticipate that International Paper will post 3.51 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Waverton Investment Management Ltd lifted its position in International Paper by 18.4% during the fourth quarter. Waverton Investment Management Ltd now owns 14,073 shares of the basic materials company’s stock worth $815,000 after buying an additional 2,184 shares in the last quarter. Sit Investment Associates Inc. lifted its position in International Paper by 21.7% during the fourth quarter. Sit Investment Associates Inc. now owns 350,260 shares of the basic materials company’s stock worth $20,294,000 after buying an additional 62,490 shares in the last quarter. DnB Asset Management AS lifted its position in International Paper by 8.0% during the fourth quarter. DnB Asset Management AS now owns 44,397 shares of the basic materials company’s stock worth $2,572,000 after buying an additional 3,300 shares in the last quarter. Lynch & Associates IN lifted its position in International Paper by 2.6% during the fourth quarter. Lynch & Associates IN now owns 35,059 shares of the basic materials company’s stock worth $2,031,000 after buying an additional 877 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. purchased a new position in International Paper during the fourth quarter worth approximately $1,046,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

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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.

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Analyst Recommendations for International Paper (NYSE:IP)

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