International Paper (NYSE:IP) Price Target Cut to $50.00 by Analysts at Argus

International Paper (NYSE:IP) had its price objective cut by Argus from $55.00 to $50.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other research analysts have also recently issued reports on the stock. BNP Paribas upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, November 24th. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Stifel Nicolaus set a $57.80 price objective on International Paper and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.23.

International Paper Price Performance

Shares of IP stock opened at $39.28 on Monday. International Paper has a 52-week low of $35.56 and a 52-week high of $60.15. The firm has a market capitalization of $20.74 billion, a P/E ratio of -15.05, a P/E/G ratio of 1.20 and a beta of 1.09. The stock has a 50 day moving average price of $40.35 and a 200 day moving average price of $45.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The company’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.7%. International Paper’s dividend payout ratio is currently -70.88%.

Insider Transactions at International Paper

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Paper

A number of hedge funds have recently modified their holdings of IP. Raymond James Financial Inc. boosted its position in shares of International Paper by 9.5% during the 1st quarter. Raymond James Financial Inc. now owns 433,353 shares of the basic materials company’s stock worth $23,119,000 after purchasing an additional 37,458 shares during the period. Wellington Management Group LLP increased its holdings in International Paper by 57.5% in the first quarter. Wellington Management Group LLP now owns 360,232 shares of the basic materials company’s stock valued at $19,218,000 after buying an additional 131,578 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of International Paper by 1.2% during the 1st quarter. Kestra Advisory Services LLC now owns 67,950 shares of the basic materials company’s stock worth $3,625,000 after acquiring an additional 789 shares in the last quarter. Allstate Corp raised its holdings in International Paper by 38.8% during the first quarter. Allstate Corp now owns 13,524 shares of the basic materials company’s stock worth $722,000 after purchasing an additional 3,782 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in International Paper by 50.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 95,340 shares of the basic materials company’s stock worth $5,086,000 after acquiring an additional 32,157 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.