International Paper (NYSE:IP) Stock Rating Lowered by Zacks Research

International Paper (NYSE:IP) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

IP has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of International Paper in a report on Wednesday, November 5th. BNP Paribas Exane lowered their target price on International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a report on Wednesday, October 8th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Truist Financial dropped their target price on shares of International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Seaport Res Ptn cut shares of International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.67.

International Paper Stock Up 1.0%

Shares of NYSE IP traded up $0.40 during mid-day trading on Monday, reaching $38.90. 1,313,202 shares of the company traded hands, compared to its average volume of 5,942,792. The company’s fifty day moving average is $45.12 and its two-hundred day moving average is $47.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper has a fifty-two week low of $35.79 and a fifty-two week high of $60.36. The stock has a market cap of $20.54 billion, a PE ratio of -389.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 56.4% compared to the same quarter last year. On average, analysts expect that International Paper will post 2.77 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On International Paper

Several institutional investors have recently bought and sold shares of IP. Bank of New York Mellon Corp increased its position in shares of International Paper by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after acquiring an additional 1,592,411 shares in the last quarter. Consolidated Planning Corp bought a new position in International Paper during the 2nd quarter worth about $317,000. Whalen Wealth Management Inc. acquired a new stake in shares of International Paper in the 2nd quarter valued at about $604,000. MBB Public Markets I LLC bought a new stake in shares of International Paper in the first quarter valued at about $313,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of International Paper by 47.0% in the first quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company’s stock valued at $29,526,000 after purchasing an additional 176,991 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

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.