International Paper (NYSE:IP) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of International Paper (NYSE:IP - Free Report) from a buy rating to a hold rating in a report released on Friday.

Several other equities analysts also recently weighed in on IP. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Truist Financial reaffirmed a "buy" rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. 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 Wednesday, March 26th. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.32.

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International Paper Stock Performance

Shares of NYSE:IP traded up $0.19 during trading on Friday, hitting $53.40. The company's stock had a trading volume of 4,930,459 shares, compared to its average volume of 9,703,253. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a 50-day moving average of $54.79 and a 200-day moving average of $53.80. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. On average, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio (DPR) is presently 117.83%.

Hedge Funds Weigh In On International Paper

Institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in shares of International Paper during the third quarter valued at about $25,000. Sierra Ocean LLC bought a new position in International Paper during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in International Paper during the 4th quarter valued at approximately $26,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the 3rd quarter worth approximately $28,000. Finally, Picton Mahoney Asset Management raised its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other 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.