International Paper (NYSE:IP) Raised to Buy at StockNews.com

International Paper (NYSE:IP - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Thursday.

A number of other brokerages have also commented on IP. Truist Financial reaffirmed a "buy" rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They set a "neutral" rating on the stock. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday. They set an "overweight" rating and a $59.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.32.

Remove Ads

International Paper Trading Up 3.1 %

Shares of IP stock traded up $1.60 during trading hours on Thursday, hitting $52.99. 8,781,619 shares of the company were exchanged, compared to its average volume of 9,907,057. The company has a 50 day simple moving average of $54.94 and a two-hundred day simple moving average of $53.54. The firm has a market cap of $27.88 billion, a P/E ratio of 33.75, a P/E/G 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 fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities analysts anticipate that International Paper will post 2.77 EPS for the current year.

Institutional Investors Weigh In On International Paper

A number of institutional investors have recently added to or reduced their stakes in IP. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in International Paper during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in International Paper in the fourth quarter worth $26,000. Legacy Investment Solutions LLC bought a new position in International Paper in the 3rd quarter valued at $28,000. Finally, Picton Mahoney Asset Management increased its position 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 valued at $29,000 after purchasing an additional 215 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Company Profile

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.