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

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

Other equities research analysts have also issued research reports about the company. Truist Financial reissued a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday. They issued an “overweight” rating and a $59.00 price target for the company. Finally, Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued 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 an average target price of $55.32.

International Paper Trading Down 0.8 %

NYSE IP opened at $52.18 on Thursday. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The firm has a 50 day moving average of $55.02 and a two-hundred day moving average of $53.40. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $27.45 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

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

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Institutional Trading of International Paper

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake in shares of International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in International Paper during the 3rd quarter worth $24,327,000. Wedmont Private Capital acquired a new stake in shares of International Paper in the 4th quarter worth $376,000. Everence Capital Management Inc. purchased a new stake in shares of International Paper in the fourth quarter valued at about $828,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after acquiring an additional 15,904 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

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.