International Paper (NYSE:IP) Coverage Initiated by Analysts at Bank of America

Research analysts at Bank of America assumed coverage on shares of International Paper (NYSE:IP - Get Free Report) in a research note issued to investors on Thursday. The brokerage set a "neutral" rating on the basic materials company's stock.

A number of other analysts also recently issued reports on the stock. BNP Paribas downgraded shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Truist Financial reissued a "buy" rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.88.

International Paper Stock Performance

Shares of NYSE IP traded up $0.81 during trading on Thursday, reaching $56.25. 7,666,126 shares of the company traded hands, compared to its average volume of 12,581,360. The firm has a 50 day simple moving average of $55.45 and a 200-day simple moving average of $52.34. 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 capitalization of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.99% and a return on equity of 4.75%. Equities research analysts anticipate that International Paper will post 2.89 earnings per share for the current year.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On International Paper

A number of hedge funds have recently modified their holdings of IP. Capital Research Global Investors lifted its holdings in shares of International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after buying an additional 12,191,361 shares in the last quarter. FMR LLC lifted its holdings in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after buying an additional 8,720,575 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of 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 worth $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of International Paper by 134.8% in 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 in the last quarter. 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.