International Paper (NYSE:IP) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of International Paper (NYSE:IP) from a hold rating to a sell rating in a research note released on Monday.

Other equities analysts have also issued reports about the company. Citigroup initiated coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company lowered their price objective on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

International Paper Stock Performance

Shares of IP stock opened at $44.29 on Monday. The firm has a market cap of $23.38 billion, a P/E ratio of 28.21, a PEG ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a fifty-two week low of $36.22 and a fifty-two week high of $60.36. The stock’s 50-day moving average is $49.76 and its two-hundred day moving average is $53.54.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the firm earned $0.17 earnings per share. International Paper’s revenue was up 27.8% compared to the same quarter last year. Analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On International Paper

Institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in International Paper by 4.5% in the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock valued at $44,774,000 after buying an additional 39,404 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of International Paper by 6.1% in the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 529 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of International Paper by 2.6% in the third quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company’s stock valued at $20,412,000 after acquiring an additional 10,632 shares in the last quarter. Versant Capital Management Inc increased its position in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the period. Finally, GAMMA Investing LLC raised its stake in International Paper by 71.6% in the 4th quarter. GAMMA Investing LLC now owns 5,098 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 2,127 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

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.