International Paper Co. (IP) Raised to “Strong-Buy” at Vetr Inc.
International Paper Co. (NYSE:IP) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $51.66 price objective on the stock. Vetr‘s target price would indicate a potential upside of 12.99% from the company’s current price.
Several other analysts also recently commented on the stock. Jefferies Group reaffirmed a “hold” rating on shares of International Paper in a report on Monday, August 22nd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of International Paper in a report on Monday, June 20th. Credit Agricole SA upped their price objective on shares of International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a report on Monday, October 3rd. Finally, Deutsche Bank AG upped their price objective on shares of International Paper from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.71.
International Paper (NYSE:IP) traded down 2.27% during trading on Tuesday, reaching $45.72. 2,908,173 shares of the company traded hands. International Paper has a 52 week low of $32.50 and a 52 week high of $49.90. The company has a market capitalization of $18.80 billion, a P/E ratio of 24.77 and a beta of 1.55. The firm has a 50-day moving average price of $48.00 and a 200-day moving average price of $44.31.
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International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. Analysts forecast that International Paper will post $3.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.4625 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.05%. International Paper’s dividend payout ratio is presently 94.12%.
In other International Paper news, insider William P. Hoel sold 20,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas G. Kadien sold 10,000 shares of the stock in a transaction dated 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.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Trust N.A. raised its position in shares of International Paper by 0.5% in the third quarter. Raymond James Trust N.A. now owns 9,979 shares of the company’s stock valued at $478,000 after buying an additional 51 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of International Paper by 9.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 106,071 shares of the company’s stock valued at $5,089,000 after buying an additional 8,911 shares during the period. Gradient Investments LLC raised its position in shares of International Paper by 1.5% in the third quarter. Gradient Investments LLC now owns 105,544 shares of the company’s stock valued at $5,064,000 after buying an additional 1,592 shares during the period. Summit Financial Wealth Advisors LLC raised its position in shares of International Paper by 37.2% in the third quarter. Summit Financial Wealth Advisors LLC now owns 18,752 shares of the company’s stock valued at $900,000 after buying an additional 5,080 shares during the period. Finally, Lynch & Associates IN raised its position in shares of International Paper by 4.9% in the third quarter. Lynch & Associates IN now owns 28,338 shares of the company’s stock valued at $1,360,000 after buying an additional 1,325 shares during the period. 81.72% of the stock is owned by institutional investors.
International Paper Company Profile
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.
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