International Paper (NYSE:IP) Lowered to “Hold” Rating by StockNews.com

International Paper (NYSE:IP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other analysts have also recently issued reports on IP. Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Wednesday. Finally, Citigroup initiated coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Price Performance

Shares of International Paper stock opened at $53.23 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market cap of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The firm has a fifty day moving average price of $54.86 and a two-hundred day moving average price of $53.71. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Analysts expect that International Paper will post 2.77 EPS for the current year.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently bought and sold shares of the business. Capital Research Global Investors increased its stake 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 valued at $1,609,462,000 after buying an additional 12,191,361 shares in the last quarter. FMR LLC grew its holdings in International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares during the last quarter. Point72 Asset Management L.P. increased its position in 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 acquiring an additional 2,484,386 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock worth $212,522,000 after acquiring an additional 2,266,762 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of International Paper during the fourth quarter worth approximately $109,201,000. 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.