International Paper (NYSE:IP) Stock Rating Lowered by BNP Paribas

BNP Paribas lowered shares of International Paper (NYSE:IP) from a neutral rating to an underperform rating in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm currently has $48.20 target price on the basic materials company’s stock.

Several other brokerages have also recently weighed in on IP. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

International Paper Trading Up 2.0 %

NYSE:IP opened at $57.58 on Wednesday. The company’s 50 day moving average price is $50.36 and its 200-day moving average price is $46.50. International Paper has a 52 week low of $31.76 and a 52 week high of $59.52. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. International Paper’s payout ratio is 158.12%.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock worth $910,826 in the last three months. Company insiders own 0.55% of the company’s stock.

Institutional Trading of International Paper

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in shares of International Paper in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of International Paper in the 2nd quarter worth about $26,000. Finally, Crewe Advisors LLC purchased a new position in shares of International Paper during the 1st quarter worth about $29,000. 81.95% of the stock is currently owned by 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.