International Paper Company (IP) Receives “Buy” Rating from BMO Capital Markets
International Paper Company (NYSE:IP)‘s stock had its “buy” rating restated by analysts at BMO Capital Markets in a research note issued to investors on Thursday.
Other equities analysts have also issued research reports about the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 target price (up previously from $63.00) on shares of International Paper in a research report on Saturday, April 29th. Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the company from $60.00 to $64.00 in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, July 11th. BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Vertical Research reiterated a “buy” rating on shares of International Paper in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $58.14.
International Paper (NYSE:IP) traded down 0.83% during mid-day trading on Thursday, reaching $53.95. 1,954,720 shares of the company were exchanged. The stock has a market capitalization of $22.28 billion, a P/E ratio of 27.40 and a beta of 1.46. International Paper has a 12 month low of $43.55 and a 12 month high of $58.95. The company’s 50 day moving average price is $55.77 and its 200-day moving average price is $53.58.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. International Paper’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, equities analysts expect that International Paper will post $3.47 earnings per share for the current fiscal year.
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In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.64% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank N A MO boosted its position in shares of International Paper by 33.5% in the first quarter. UMB Bank N A MO now owns 15,812 shares of the basic materials company’s stock valued at $803,000 after buying an additional 3,967 shares during the last quarter. Sigma Planning Corp boosted its position in shares of International Paper by 21.5% in the first quarter. Sigma Planning Corp now owns 9,453 shares of the basic materials company’s stock valued at $480,000 after buying an additional 1,671 shares during the last quarter. First Manhattan Co. boosted its position in shares of International Paper by 0.9% in the first quarter. First Manhattan Co. now owns 9,356 shares of the basic materials company’s stock valued at $448,000 after buying an additional 87 shares during the last quarter. Mechanics Bank Trust Department purchased a new position in shares of International Paper during the first quarter valued at approximately $226,000. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in shares of International Paper by 0.3% in the first quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 24,914 shares of the basic materials company’s stock valued at $1,265,000 after buying an additional 75 shares during the last quarter. Institutional investors own 83.68% of the company’s stock.
International Paper Company Profile
International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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