International Paper (NYSE:IP) Rating Lowered to Hold at StockNews.com

International Paper (NYSE:IP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

IP has been the subject of a number of other reports. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday. 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 report on Friday, January 31st. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.32.

International Paper Trading Down 1.1 %

NYSE:IP opened at $54.82 on Friday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The business’s 50-day moving average is $54.93 and its two-hundred day moving average is $53.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market capitalization of $28.84 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released 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%. Research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently modified their holdings of the business. Sierra Ocean LLC bought a new stake in shares of International Paper during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper during the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $25,000. Picton Mahoney Asset Management lifted its holdings in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in International Paper during the 3rd quarter valued at approximately $28,000. 81.95% of the stock is 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.