International Paper Company (IP) Given Hold Rating at KeyCorp
International Paper Company (NYSE:IP)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a research note issued to investors on Thursday.
Other equities research analysts have also issued research reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of International Paper in a research report on Friday, July 14th. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.75 to $62.00 in a research report on Monday, August 14th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $56.00 price target (up previously from $54.00) on shares of International Paper in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.27.
Shares of International Paper (NYSE IP) traded down 0.28% during trading on Thursday, reaching $57.23. The stock has a 50-day moving average of $56.08 and a 200-day moving average of $54.51. The company has a market capitalization of $23.63 billion, a P/E ratio of 29.07 and a beta of 1.46. International Paper has a 52-week low of $43.55 and a 52-week high of $58.95.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. International Paper’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Equities research analysts expect that International Paper will post $3.46 EPS for the current fiscal year.
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In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its holdings in International Paper by 21.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock worth $2,891,000 after purchasing an additional 9,093 shares during the last quarter. Burney Co. lifted its holdings in International Paper by 4.5% during the 2nd quarter. Burney Co. now owns 101,543 shares of the basic materials company’s stock worth $5,654,000 after purchasing an additional 4,374 shares during the last quarter. Homrich & Berg acquired a new stake in International Paper during the 2nd quarter worth approximately $337,000. JPMorgan Chase & Co. lifted its holdings in International Paper by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock worth $22,282,000 after purchasing an additional 9,553 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in International Paper by 10.4% during the 2nd quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 492 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.
About International Paper
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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