Wall Street Zen Upgrades International Paper (NYSE:IP) to Hold

International Paper (NYSE:IP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Monday.

IP has been the topic of a number of other research reports. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. Royal Bank Of Canada upped their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. UBS Group raised their target price on shares of International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Seaport Research Partners reiterated a “buy” rating and issued a $46.00 price target on shares of International Paper in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upgraded shares of International Paper from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $51.00 to $61.00 in a report on Tuesday, July 28th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

International Paper Stock Performance

NYSE:IP opened at $40.14 on Monday. International Paper has a 52 week low of $29.26 and a 52 week high of $50.25. The company has a fifty day simple moving average of $38.81 and a two-hundred day simple moving average of $37.88. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The company has a market cap of $21.26 billion, a price-to-earnings ratio of -6.16 and a beta of 0.94.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that International Paper will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction dated 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 owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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