Wall Street Zen Downgrades International Paper (NYSE:IP) to Sell

International Paper (NYSE:IP) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other research analysts have also recently weighed in on IP. JPMorgan Chase & Co. raised shares of International Paper from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $51.00 to $61.00 in a report on Tuesday, July 28th. Loop Capital set a $61.00 target price on shares of International Paper in a report on Tuesday, July 28th. Seaport Research Partners reaffirmed a “buy” rating and issued a $46.00 target price on shares of International Paper in a research report on Wednesday, August 12th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Citigroup increased their price target on International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Trading Up 0.8%

International Paper stock opened at $41.31 on Tuesday. International Paper has a one year low of $29.26 and a one year high of $50.25. The business’s fifty day moving average is $39.51 and its 200 day moving average is $37.85. The stock has a market capitalization of $21.88 billion, a PE ratio of -6.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.International Paper’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, sell-side analysts predict that International Paper will post 1.34 EPS for the current year.

Insider Buying and Selling

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction that occurred on 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 completion of 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 is accessible through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the 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 completion of the transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several hedge funds and other institutional investors have recently modified their holdings of IP. McIlrath & Eck LLC lifted its position in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new stake in International Paper during the fourth quarter valued at about $25,000. Aberdeen Wealth Management LLC purchased a new stake in International Paper in the second quarter worth about $27,000. DV Equities LLC purchased a new stake in International Paper in the fourth quarter worth about $29,000. Finally, Ascentis Independent Advisors bought a new position in shares of International Paper in the first quarter worth about $28,000. 81.95% of the stock is currently owned by hedge funds and other 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.