International Paper Company (IP) Given “Buy” Rating at Jefferies Group LLC
International Paper Company (NYSE:IP)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a note issued to investors on Friday. They presently have a $66.00 price target on the basic materials company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 22.36% from the stock’s previous close.
Several other research firms also recently weighed in on IP. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Vertical Research restated a “buy” rating on shares of International Paper in a report on Friday, July 28th. KeyCorp restated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the company from $60.00 to $64.00 in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $58.14.
International Paper (NYSE IP) traded up 0.714% during trading on Friday, reaching $54.325. 539,455 shares of the company were exchanged. The firm has a market capitalization of $22.43 billion, a PE ratio of 27.590 and a beta of 1.46. The stock has a 50 day moving average price of $55.71 and a 200 day moving average price of $53.58. International Paper has a 12 month low of $43.55 and a 12 month high of $58.95.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that International Paper will post $3.47 EPS for the current fiscal year.
In related news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.64% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in International Paper during the second quarter valued at about $424,000. IHT Wealth Management LLC boosted its stake in International Paper by 26.8% in the second quarter. IHT Wealth Management LLC now owns 1,310 shares of the basic materials company’s stock valued at $650,000 after buying an additional 277 shares in the last quarter. FNY Partners Fund LP boosted its stake in International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in International Paper by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after buying an additional 47 shares in the last quarter. Finally, Ffcm LLC boosted its stake in International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock valued at $119,000 after buying an additional 1,242 shares in the last quarter. 83.68% of the stock is currently owned by institutional investors and hedge funds.
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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