UBS Group set a $50.00 price objective on International Paper (NYSE:IP) in a research note published on Monday, June 24th, Stock Target Advisor reports. The firm currently has a buy rating on the basic materials company’s stock.
IP has been the topic of several other research reports. Citigroup boosted their price target on International Paper from $53.00 to $55.00 and gave the stock a buy rating in a research report on Friday, April 5th. Bank of America lowered International Paper from a buy rating to a neutral rating in a report on Tuesday, April 16th. Stephens lowered International Paper from an overweight rating to an equal weight rating and set a $60.00 target price on the stock. in a report on Monday, June 24th. Royal Bank of Canada lowered International Paper from an outperform rating to a sector perform rating and decreased their price objective for the company from $54.00 to $47.00 in a report on Friday, April 5th. Finally, Barclays decreased their price objective on International Paper from $40.00 to $39.00 and set an underweight rating on the stock in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $51.64.
NYSE:IP opened at $43.77 on Monday. International Paper has a fifty-two week low of $37.55 and a fifty-two week high of $54.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.43 and a quick ratio of 0.96. The company has a market cap of $17.38 billion, a PE ratio of 8.23, a PEG ratio of 1.72 and a beta of 1.49. The company’s 50-day simple moving average is $43.44.
International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.20. The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.73 billion. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. Equities analysts anticipate that International Paper will post 5.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. International Paper’s payout ratio is presently 37.59%.
In related news, SVP Thomas J. Plath sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the sale, the senior vice president now owns 30,671 shares of the company’s stock, valued at $1,385,409.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total value of $234,250.00. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IP. Vanguard Group Inc lifted its holdings in shares of International Paper by 0.3% in the third quarter. Vanguard Group Inc now owns 31,253,119 shares of the basic materials company’s stock valued at $1,536,091,000 after purchasing an additional 101,749 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of International Paper by 3.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 558,255 shares of the basic materials company’s stock valued at $22,531,000 after acquiring an additional 20,443 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in International Paper by 19.7% during the 4th quarter. Advisors Asset Management Inc. now owns 419,592 shares of the basic materials company’s stock valued at $16,935,000 after purchasing an additional 68,967 shares during the period. Jennison Associates LLC purchased a new position in International Paper during the 4th quarter valued at about $1,081,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in International Paper by 3.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 101,688 shares of the basic materials company’s stock valued at $4,104,000 after purchasing an additional 3,774 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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