International Paper (NYSE:IP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of International Paper (NYSE:IP) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $51.88.

IP has been the subject of a number of analyst reports. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

A number of institutional investors and hedge funds have recently modified their holdings of IP. Livforsakringsbolaget Skandia Omsesidigt grew its position in International Paper by 429.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,576 shares of the basic materials company’s stock valued at $175,000 after buying an additional 2,900 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of International Paper by 677.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 1,355 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in International Paper by 11.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company’s stock worth $994,000 after purchasing an additional 2,134 shares during the period. Creative Planning lifted its position in International Paper by 6.6% during the third quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock valued at $3,562,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in International Paper during the third quarter valued at about $312,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of IP stock opened at $57.27 on Thursday. The business’s fifty day moving average is $55.51 and its 200 day moving average is $52.49. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a market cap of $19.90 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.23%. International Paper’s payout ratio is 117.84%.

About International Paper

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.