International Paper Co. (IP) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of International Paper Co. (NYSE:IP) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning. They currently have $51.66 price objective on the stock.
Other analysts have also recently issued reports about the company. Jefferies Group raised their target price on International Paper from $47.00 to $49.00 and gave the company a hold rating in a research report on Friday, July 29th. Royal Bank Of Canada restated a sector perform rating and issued a $42.00 target price on shares of International Paper in a research report on Friday, July 29th. Deutsche Bank AG restated a hold rating and issued a $42.00 target price on shares of International Paper in a research report on Wednesday, August 31st. BMO Capital Markets restated a market perform rating and issued a $47.00 target price on shares of International Paper in a research report on Saturday, August 13th. Finally, Citigroup Inc. raised their target price on International Paper from $47.00 to $49.00 and gave the company a neutral rating in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $47.71.
International Paper (NYSE:IP) opened at 45.72 on Tuesday. The stock has a 50 day moving average price of $48.00 and a 200-day moving average price of $44.31. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 24.77 and a beta of 1.55. International Paper has a 12-month low of $32.50 and a 12-month high of $49.90.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. Equities analysts forecast that International Paper will post $3.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.4625 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 4.05%. International Paper’s dividend payout ratio (DPR) is 94.12%.
In other news, CFO Carol L. Roberts sold 12,256 shares of International Paper stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.20, for a total value of $566,227.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William P. Hoel sold 20,000 shares of International Paper stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total value of $962,400.00. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. SevenBridge Financial Group LLC acquired a new position in International Paper during the second quarter worth approximately $141,000. Springbok Capital Management LLC raised its position in International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock worth $171,000 after buying an additional 1,405 shares during the last quarter. Johnson Financial Group Inc. raised its position in International Paper by 2,458.9% in the second quarter. Johnson Financial Group Inc. now owns 4,606 shares of the company’s stock worth $195,000 after buying an additional 4,426 shares during the last quarter. Bender Robert & Associates acquired a new position in International Paper during the second quarter worth approximately $202,000. Finally, Palladium Partners LLC acquired a new position in International Paper during the second quarter worth approximately $205,000. Institutional investors and hedge funds own 81.72% of the company’s stock.
International Paper Company Profile
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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