International Paper Company (NYSE:IP) Receives Average Rating of “Moderate Buy” from Brokerages

International Paper Company (NYSE:IP) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $43.7250.

Several research firms recently commented on IP. Wells Fargo & Company upgraded International Paper from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $39.00 in a research report on Monday, May 4th. Citigroup reduced their target price on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada cut their price objective on International Paper from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on International Paper in a report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price objective for the company. Finally, Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a report on Thursday, April 23rd.

Insider Transactions at International Paper

In related news, Director Scott Tozier bought 10,000 shares of the stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $31.30 per share, with a total value of $313,000.00. Following the purchase, the director owned 10,025 shares in the company, valued at approximately $313,782.50. The trade was a 40,000.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anders Gustafsson bought 13,217 shares of the stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the purchase, the director owned 26,092 shares in the company, valued at $987,060.36. The trade was a 102.66% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 36,092 shares of company stock valued at $1,313,064 over the last quarter. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC raised its position in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new position in International Paper during the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors bought a new position in International Paper during the 1st quarter valued at approximately $28,000. DV Equities LLC bought a new position in International Paper during the 4th quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC raised its position in International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 344 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $33.81 on Wednesday. International Paper has a 52 week low of $29.26 and a 52 week high of $56.13. The business has a 50-day simple moving average of $33.90 and a 200 day simple moving average of $38.49. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of -5.32 and a beta of 0.96.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. International Paper’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts forecast that International Paper will post 1.38 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, May 22nd. International Paper’s dividend payout ratio is presently -29.09%.

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.