International Paper (NYSE:IP – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
A number of other equities research analysts have also issued reports on the stock. Citigroup upped their target price on shares of International Paper from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. BNP Paribas Exane decreased their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of International Paper in a research report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target on the stock. Bank of America downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Tuesday. Finally, UBS Group decreased their target price on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.89.
Get Our Latest Analysis on International Paper
International Paper Stock Performance
International Paper (NYSE:IP – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, equities research analysts expect that International Paper will post 1.38 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Scott Tozier purchased 10,000 shares of International Paper stock in a transaction dated Friday, May 1st. The shares were acquired at an average cost of $31.30 per share, with a total value of $313,000.00. Following the purchase, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.
Hedge Funds Weigh In On International Paper
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in International Paper by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock worth $2,535,058,000 after purchasing an additional 310,834 shares in the last quarter. Capital International Investors raised its holdings in shares of International Paper by 29.4% in the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after buying an additional 14,422,616 shares during the period. Capital Research Global Investors lifted its stake in International Paper by 0.4% during the 4th quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock worth $2,148,154,000 after acquiring an additional 204,654 shares in the last quarter. State Street Corp lifted its stake in International Paper by 1.3% during the 4th quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after acquiring an additional 397,673 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in International Paper by 81.6% during the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after acquiring an additional 6,663,986 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.
About International Paper
International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.
Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.
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