ValuEngine Downgrades International Paper (NYSE:IP) to Strong Sell

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International Paper (NYSE:IP) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, ValuEngine reports.

Other analysts have also issued reports about the company. Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $53.00 to $45.00 in a research note on Thursday, July 11th. KeyCorp reaffirmed a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research note on Thursday, July 25th. Stephens lowered International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective on the stock. in a research note on Monday, June 24th. Finally, UBS Group set a $50.00 price objective on International Paper and gave the company a “buy” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. International Paper currently has an average rating of “Hold” and an average price target of $47.82.

Shares of IP traded down $1.43 during trading hours on Friday, hitting $37.43. 3,076,262 shares of the company were exchanged, compared to its average volume of 3,078,252. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 1.71 and a beta of 1.49. International Paper has a fifty-two week low of $37.25 and a fifty-two week high of $54.95. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 1.38. The firm’s fifty day moving average is $41.88 and its 200 day moving average is $44.40.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.14. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.77 billion. International Paper had a return on equity of 30.14% and a net margin of 6.88%. International Paper’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. Analysts anticipate that International Paper will post 4.53 EPS for the current year.

In other news, SVP Sharon R. Ryan sold 22,507 shares of International Paper stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the sale, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at $2,768,083.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Advisory Alpha LLC bought a new stake in International Paper in the first quarter worth approximately $25,000. Bremer Bank National Association bought a new stake in shares of International Paper during the first quarter valued at approximately $28,000. Citizens Financial Group Inc RI increased its holdings in shares of International Paper by 138.4% during the second quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 465 shares in the last quarter. First Interstate Bank bought a new stake in shares of International Paper during the first quarter valued at approximately $37,000. Finally, Hanson McClain Inc. increased its holdings in shares of International Paper by 82.2% during the first quarter. Hanson McClain Inc. now owns 869 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 392 shares in the last quarter. 82.02% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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