International Paper (NYSE:IP) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of International Paper (NYSE:IP) from a buy rating to a hold rating in a report published on Friday morning.

A number of other analysts have also recently weighed in on IP. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Performance

Shares of NYSE IP opened at $53.23 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $54.86 and its two-hundred day moving average price is $53.67. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The stock has a market capitalization of $28.01 billion, a P/E ratio of 33.90, 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%. As a group, sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Hedge Funds Weigh In On International Paper

Several hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in shares of International Paper during the third quarter worth $25,000. Sierra Ocean LLC acquired a new stake in International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in shares of International Paper in the fourth quarter worth about $26,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the third quarter worth approximately $28,000. Finally, Picton Mahoney Asset Management raised its holdings in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.