International Paper (NYSE:IP) Raised to “Strong-Buy” at Seaport Res Ptn

International Paper (NYSE:IP) was upgraded by equities researchers at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $52.00 price target on shares of International Paper in a report on Thursday. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Wells Fargo & Company lifted their price objective on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.71.

International Paper Stock Performance

Shares of IP stock opened at $43.17 on Friday. International Paper has a 12 month low of $30.78 and a 12 month high of $47.40. The stock has a market capitalization of $14.99 billion, a P/E ratio of 88.10 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. The firm’s 50 day moving average is $41.76 and its 200 day moving average is $38.37.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the business earned $0.53 earnings per share. International Paper’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that International Paper will post 1.85 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $44.58, for a total value of $26,748.00. Following the completion of the sale, the director now owns 45,479 shares of the company’s stock, valued at approximately $2,027,453.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,600 shares of company stock worth $144,744 over the last ninety days. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several institutional investors have recently bought and sold shares of IP. Ables Iannone Moore & Associates Inc. bought a new stake in International Paper in the fourth quarter valued at approximately $37,000. StrategIQ Financial Group LLC bought a new stake in International Paper during the 4th quarter valued at $2,271,000. Franklin Resources Inc. boosted its position in International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares during the period. Los Angeles Capital Management LLC bought a new stake in International Paper in the 1st quarter worth $1,312,000. Finally, Cibc World Markets Corp increased its position in shares of International Paper by 1,437.6% in the fourth quarter. Cibc World Markets Corp now owns 293,639 shares of the basic materials company’s stock valued at $10,615,000 after acquiring an additional 274,542 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.