International Paper (NYSE:IP) Coverage Initiated at Bank of America

Equities researchers at Bank of America began coverage on shares of International Paper (NYSE:IP) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating on the basic materials company’s stock.

IP has been the topic of a number of other reports. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Performance

Shares of NYSE IP opened at $56.25 on Thursday. The stock has a fifty day moving average price of $55.46 and a two-hundred day moving average price of $52.19. 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 has a market cap of $19.54 billion, a P/E ratio of 35.83 and a beta of 1.02. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings results 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%. Research analysts forecast that International Paper will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in International Paper by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company’s stock valued at $2,561,651,000 after acquiring an additional 368,648 shares during the last quarter. Vanguard Group Inc. raised its position in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after purchasing an additional 340,383 shares during the period. Capital Research Global Investors raised its position in shares of International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. FMR LLC raised its position in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of International Paper by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after purchasing an additional 24,816 shares during the period. 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.