International Paper (NYSE:IP) Upgraded at StockNews.com

StockNews.com upgraded shares of International Paper (NYSE:IP) from a hold rating to a buy rating in a report released on Thursday morning.

Several other research analysts have also recently weighed in on IP. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research report on Thursday. They issued an “overweight” rating and a $59.00 price target for the company. Finally, Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Stock Down 1.9 %

Shares of IP opened at $51.29 on Thursday. The firm has a market cap of $26.99 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The firm’s 50-day simple moving average is $54.96 and its 200 day simple moving average is $53.46.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. On average, analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.61%. International Paper’s payout ratio is 117.83%.

Institutional Trading of International Paper

Several institutional investors and hedge funds have recently modified their holdings of IP. Capital Research Global Investors boosted its stake in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC lifted its stake in International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the last quarter. Point72 Asset Management L.P. boosted its position in International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of International Paper by 134.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock worth $212,522,000 after buying an additional 2,266,762 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of International Paper during the fourth quarter worth $109,201,000. 81.95% of the stock is currently owned by institutional investors.

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.