International Paper (IP) Stock Rating Lowered by Wells Fargo & Co
Wells Fargo & Co downgraded shares of International Paper (NYSE:IP) from an outperform rating to a market perform rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has $60.00 price target on the basic materials company’s stock.
IP has been the subject of several other reports. BMO Capital Markets restated a buy rating and set a $70.00 price target on shares of International Paper in a research note on Thursday, January 25th. Bank of America upgraded International Paper from a neutral rating to a buy rating and set a $66.00 price target for the company in a research note on Tuesday, January 2nd. ValuEngine lowered International Paper from a buy rating to a hold rating in a research note on Wednesday, November 15th. DA Davidson upped their price target on International Paper to $74.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Finally, KeyCorp restated a hold rating on shares of International Paper in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $65.17.
Shares of International Paper (NYSE IP) opened at $55.24 on Wednesday. The company has a market capitalization of $22,810.86, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.17 and a current ratio of 1.62. International Paper has a 12 month low of $49.60 and a 12 month high of $66.94.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be paid a $0.475 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.44%. International Paper’s dividend payout ratio (DPR) is currently 36.97%.
Several hedge funds have recently bought and sold shares of IP. Calton & Associates Inc. purchased a new position in International Paper in the fourth quarter valued at about $106,000. Rational Advisors LLC purchased a new position in International Paper in the third quarter valued at about $108,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in International Paper in the fourth quarter valued at about $112,000. Wagner Wealth Management LLC purchased a new position in International Paper in the fourth quarter valued at about $112,000. Finally, Cerebellum GP LLC purchased a new position in International Paper in the fourth quarter valued at about $121,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
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International Paper Company Profile
International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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