International Paper Co. (IP) Stock Rating Upgraded by Vetr Inc.
International Paper Co. (NYSE:IP) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $51.66 price objective on the stock. Vetr‘s price objective indicates a potential upside of 10.55% from the company’s current price.
IP has been the subject of a number of other research reports. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a report on Monday, October 3rd. Deutsche Bank AG set a $50.00 price objective on shares of International Paper and gave the company a “hold” rating in a report on Friday, September 23rd. Goldman Sachs Group Inc. initiated coverage on shares of International Paper in a report on Thursday, September 22nd. They issued a “neutral” rating and a $49.00 price objective for the company. Credit Agricole SA boosted 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. Finally, Citigroup Inc. boosted their price objective on shares of International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, August 31st. One 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 stock currently has a consensus rating of “Hold” and an average price target of $47.71.
Shares of International Paper (NYSE:IP) opened at 46.73 on Monday. The stock’s 50 day moving average is $47.91 and its 200 day moving average is $44.37. The company has a market capitalization of $19.22 billion, a PE ratio of 25.31 and a beta of 1.55. International Paper has a 1-year low of $32.50 and a 1-year high of $49.90.
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International Paper (NYSE:IP) last announced its earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.84 by $0.08. The business earned $5.30 billion during 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%. International Paper’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, equities research analysts anticipate that International Paper will post $3.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be given a $0.4625 dividend. This is a boost from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, November 10th. International Paper’s dividend payout ratio is 94.12%.
In other International Paper news, CFO Carol L. Roberts sold 12,256 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.20, for a total value of $566,227.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William P. Hoel sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new position in shares of International Paper during the second quarter valued at about $70,056,000. Eaton Vance Management boosted its position in shares of International Paper by 482.4% in the second quarter. Eaton Vance Management now owns 1,976,316 shares of the company’s stock valued at $83,756,000 after buying an additional 1,637,005 shares during the period. Vanguard Group Inc. boosted its position in shares of International Paper by 4.7% in the second quarter. Vanguard Group Inc. now owns 26,798,338 shares of the company’s stock valued at $1,135,714,000 after buying an additional 1,199,693 shares during the period. Stifel Financial Corp boosted its position in shares of International Paper by 235.4% in the second quarter. Stifel Financial Corp now owns 1,595,329 shares of the company’s stock valued at $67,611,000 after buying an additional 1,119,712 shares during the period. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of International Paper during the second quarter valued at about $45,472,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
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.
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