JPMorgan Chase & Co. Cuts International Paper (NYSE:IP) Price Target to $46.00

International Paper (NYSE:IP) had its price target reduced by JPMorgan Chase & Co. from $48.00 to $46.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other analysts have also recently issued reports on IP. UBS Group decreased their price objective on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Stifel Nicolaus set a $57.80 price target on shares of International Paper and gave the company a “buy” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 1st. Wells Fargo & Company reduced their target price on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Finally, Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Hold” and an average price target of $50.44.

International Paper Stock Down 0.1%

IP opened at $39.09 on Friday. The company has a market capitalization of $20.64 billion, a PE ratio of -14.98, a price-to-earnings-growth ratio of 1.23 and a beta of 1.09. The firm has a 50-day simple moving average of $42.03 and a two-hundred day simple moving average of $46.16. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. International Paper has a 52 week low of $35.56 and a 52 week high of $60.15.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. International Paper’s quarterly revenue was up 56.4% on a year-over-year basis. Analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.7%. International Paper’s payout ratio is -70.88%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Paper

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in International Paper by 52.0% during the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after acquiring an additional 21,428,455 shares during the period. Capital International Investors boosted its stake in shares of International Paper by 51.4% during the third quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after purchasing an additional 16,622,062 shares during the period. Norges Bank bought a new position in shares of International Paper in the second quarter worth about $281,735,000. Price T Rowe Associates Inc. MD increased its stake in International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after buying an additional 4,201,422 shares during the period. Finally, Capital Research Global Investors lifted its holdings in International Paper by 7.5% during the 3rd quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock valued at $2,520,945,000 after buying an additional 3,768,772 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.