International Paper (NYSE:IP) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of International Paper (NYSE:IP) from a hold rating to a buy rating in a report released on Thursday.

Several other equities analysts have also recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research report on Thursday. They issued an “overweight” rating and a $59.00 price objective on the stock. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

Shares of NYSE IP opened at $52.18 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a one year low of $33.16 and a one year high of $60.36. The firm has a market capitalization of $27.45 billion, a P/E ratio of 33.24, a PEG ratio of 0.39 and a beta of 1.02. The company’s fifty day moving average is $55.02 and its two-hundred day moving average is $53.40.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.55%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in shares of International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after acquiring an additional 12,191,361 shares during the last quarter. FMR LLC raised its stake in International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock valued at $212,522,000 after buying an additional 2,266,762 shares during the period. Finally, Norges Bank acquired a new stake in shares of International Paper during the 4th quarter worth $109,201,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.