International Paper Co. (IP) Raised to “Strong-Buy” at Vetr Inc.
International Paper Co. (NYSE:IP) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm presently has a $51.66 target price on the stock. Vetr‘s target price would suggest a potential upside of 12.99% from the stock’s previous close.
A number of other research firms have also recently commented on IP. Credit Agricole SA lifted their target price on shares of International Paper from $45.00 to $53.00 and gave the stock an “underperform” rating in a research note on Tuesday, September 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $42.00 target price on shares of International Paper in a research note on Wednesday, August 31st. Citigroup Inc. lifted their target price on shares of International Paper from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 31st. Goldman Sachs Group Inc. assumed coverage on shares of International Paper in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $49.00 target price for the company. Finally, Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and a consensus target price of $47.71.
Shares of International Paper (NYSE:IP) traded down 2.27% during mid-day trading on Tuesday, reaching $45.72. 2,908,173 shares of the company’s stock were exchanged. International Paper has a one year low of $32.50 and a one year high of $49.90. The company’s 50-day moving average price is $48.00 and its 200-day moving average price is $44.31. The company has a market capitalization of $18.80 billion, a PE ratio of 24.77 and a beta of 1.55.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/international-paper-co-ip-raised-to-strong-buy-at-vetr-inc-2.html
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business earned $0.97 EPS. The company’s revenue was down 6.9% compared to the same quarter last year. On average, equities analysts expect that International Paper will post $3.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.05%. This is a positive change from International Paper’s previous quarterly dividend of $0.44. International Paper’s payout ratio is presently 94.12%.
In other International Paper news, CFO Carol L. Roberts sold 12,256 shares of International Paper stock in a transaction on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas G. Kadien sold 10,000 shares of International Paper stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. SevenBridge Financial Group LLC acquired a new stake in shares of International Paper during the second quarter valued at about $141,000. Springbok Capital Management LLC boosted its stake in shares of International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock valued at $171,000 after buying an additional 1,405 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of International Paper by 2,458.9% in the second quarter. Johnson Financial Group Inc. now owns 4,606 shares of the company’s stock valued at $195,000 after buying an additional 4,426 shares during the period. Bender Robert & Associates acquired a new stake in shares of International Paper during the second quarter valued at about $202,000. Finally, Trust Co acquired a new stake in shares of International Paper during the first quarter valued at about $205,000. 81.72% of the stock is currently owned by institutional investors.
About International Paper
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for International Paper Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Co. and related companies with MarketBeat.com's FREE daily email newsletter.