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

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

Several other brokerages have also recently commented on IP. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target 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 report on Friday, January 31st. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday. They issued an “overweight” rating and a $59.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Down 1.9 %

Shares of IP stock opened at $51.29 on Thursday. The stock has a market cap of $26.99 billion, a P/E ratio of 32.67, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. 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 company’s fifty day simple moving average is $54.96 and its two-hundred day simple moving average is $53.42.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

Hedge Funds Weigh In On International Paper

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of International Paper during the third quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper during the third quarter worth approximately $28,000. Finally, Picton Mahoney Asset Management increased its position 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 worth $29,000 after acquiring an additional 215 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.