International Paper (NYSE:IP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

International Paper (NYSE:IP) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $44.71.

A number of research firms have issued reports on IP. Wells Fargo & Company raised their price target on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial reaffirmed a “buy” rating and issued a $52.00 price target on shares of International Paper in a report on Thursday, June 27th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and upped their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd.

International Paper Trading Up 0.4 %

NYSE:IP opened at $43.50 on Wednesday. The company has a market capitalization of $15.11 billion, a P/E ratio of 88.78 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. International Paper has a 12 month low of $30.78 and a 12 month high of $47.40. The firm has a fifty day simple moving average of $41.93 and a 200-day simple moving average of $38.44.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper will post 1.86 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.25%. The ex-dividend date was Thursday, May 23rd. International Paper’s payout ratio is currently 377.55%.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the sale, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 3,600 shares of company stock valued at $147,054. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of International Paper

Several large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of International Paper in the 3rd quarter worth $457,000. Tower Research Capital LLC TRC increased its position in International Paper by 78.1% during the third quarter. Tower Research Capital LLC TRC now owns 14,199 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 6,227 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in International Paper by 121.4% in the 3rd quarter. Lazard Asset Management LLC now owns 20,032 shares of the basic materials company’s stock valued at $710,000 after purchasing an additional 10,984 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of International Paper by 24.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,897 shares of the basic materials company’s stock valued at $387,000 after buying an additional 2,139 shares during the period. Finally, Evergreen Capital Management LLC increased its holdings in shares of International Paper by 5.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,533 shares of the basic materials company’s stock worth $551,000 after buying an additional 799 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other 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.