International Paper Company (NYSE:IP) Receives Consensus Rating of “Hold” from Brokerages

Shares of International Paper Company (NYSE:IP) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $49.0727.

A number of research analysts have recently weighed in on IP shares. Wells Fargo & Company cut their price objective on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Truist Financial raised their price target on shares of International Paper from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Jefferies Financial Group upped their price objective on shares of International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. UBS Group decreased their target price on shares of International Paper from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, January 12th. Finally, BNP Paribas Exane raised International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, November 24th.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several large investors have recently made changes to their positions in IP. Bank of New York Mellon Corp increased its holdings in International Paper by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after buying an additional 1,592,411 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in International Paper by 9.7% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock worth $108,819,000 after purchasing an additional 205,888 shares during the period. Consolidated Planning Corp acquired a new stake in International Paper in the second quarter valued at approximately $317,000. Whalen Wealth Management Inc. purchased a new stake in shares of International Paper in the second quarter valued at approximately $604,000. Finally, Norges Bank purchased a new stake in shares of International Paper in the second quarter valued at approximately $281,735,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Down 1.8%

NYSE:IP opened at $41.44 on Thursday. The company has a market capitalization of $21.88 billion, a P/E ratio of -15.88, a PEG ratio of 0.49 and a beta of 1.10. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. International Paper has a 12 month low of $35.56 and a 12 month high of $58.97. The firm has a fifty day simple moving average of $40.11 and a 200-day simple moving average of $44.20.

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

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.