International Paper (NYSE:IP) Upgraded to “Buy” at StockNews.com

International Paper (NYSE:IP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday. They issued an “overweight” rating and a $59.00 target price for the company. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Price Performance

NYSE IP opened at $51.29 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm’s 50 day moving average price is $54.96 and its 200-day moving average price is $53.42. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The company has a market cap of $26.99 billion, a PE ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

Institutional Investors Weigh In On International Paper

Institutional investors and hedge funds have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC raised its holdings in shares of International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 314 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of International Paper by 49.8% during the third quarter. Empowered Funds LLC now owns 42,628 shares of the basic materials company’s stock worth $2,082,000 after purchasing an additional 14,178 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of International Paper by 1.8% during the third quarter. Natixis Advisors LLC now owns 232,142 shares of the basic materials company’s stock worth $11,340,000 after purchasing an additional 4,135 shares during the last quarter. Swiss National Bank raised its holdings in shares of International Paper by 0.5% during the third quarter. Swiss National Bank now owns 979,000 shares of the basic materials company’s stock worth $47,824,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Pathstone Holdings LLC raised its holdings in shares of International Paper by 2.1% during the third quarter. Pathstone Holdings LLC now owns 55,009 shares of the basic materials company’s stock worth $2,687,000 after purchasing an additional 1,130 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Company Profile

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.