International Paper (NYSE:IP) Upgraded to Strong-Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of International Paper (NYSE:IP) from a hold rating to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports.

Several other research firms have also commented on IP. Citigroup raised International Paper from a neutral rating to a buy rating and raised their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America raised International Paper from an underperform rating to a buy rating and raised their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Jefferies Financial Group raised International Paper from a hold rating to a buy rating and raised their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Truist Financial reaffirmed a buy rating and set a $52.00 target price on shares of International Paper in a research report on Thursday, June 27th. Finally, Wells Fargo & Company lifted their target price on International Paper from $37.00 to $41.00 and gave the stock an equal weight rating in a research report on Thursday, May 30th. Four investment 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. Based on data from MarketBeat, International Paper has a consensus rating of Moderate Buy and a consensus target price of $44.71.

International Paper Trading Up 0.4 %

Shares of IP opened at $43.34 on Friday. 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 has a market capitalization of $15.05 billion, a P/E ratio of 88.45 and a beta of 1.06. The stock’s fifty day simple moving average is $41.76 and its 200 day simple moving average is $38.40. International Paper has a twelve month low of $30.78 and a twelve month high of $47.40.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. On average, equities research analysts forecast that International Paper will post 1.86 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 4.27%. International Paper’s dividend payout ratio (DPR) is 377.55%.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now directly owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 3,600 shares of company stock worth $147,054. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its position in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. CVA Family Office LLC acquired a new position in shares of International Paper during the fourth quarter worth approximately $27,000. MCF Advisors LLC boosted its position in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the period. Crewe Advisors LLC acquired a new position in shares of International Paper during the first quarter worth approximately $29,000. Finally, Assetmark Inc. boosted its position in shares of International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.