Equities researchers at Exane BNP Paribas started coverage on shares of International Paper (NYSE:IP) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set an “outperform” rating and a $53.00 price target on the basic materials company’s stock. Exane BNP Paribas’ price objective points to a potential upside of 14.62% from the stock’s previous close.
Several other equities analysts have also weighed in on the company. BNP Paribas started coverage on International Paper in a research note on Monday. They issued an “outperform” rating and a $53.00 price objective on the stock. Royal Bank of Canada set a $43.00 price objective on International Paper and gave the company a “hold” rating in a research note on Friday, November 1st. KeyCorp reaffirmed a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research note on Thursday, October 31st. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Co reduced their price objective on International Paper from $43.00 to $42.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $45.82.
Shares of NYSE IP traded down $0.10 during midday trading on Monday, hitting $46.24. The stock had a trading volume of 2,764,547 shares, compared to its average volume of 3,040,094. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 8.69 and a beta of 1.53. International Paper has a 1-year low of $36.45 and a 1-year high of $48.24. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average price of $44.40 and a 200 day moving average price of $42.46.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.63 billion. International Paper had a return on equity of 26.97% and a net margin of 6.03%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 EPS. On average, research analysts forecast that International Paper will post 4.38 EPS for the current year.
In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $44.83, for a total transaction of $358,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy S. Nicholls sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $42.44, for a total value of $1,909,800.00. Following the transaction, the senior vice president now directly owns 60,490 shares in the company, valued at $2,567,195.60. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in IP. Vanguard Group Inc. increased its position in International Paper by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 32,455,172 shares of the basic materials company’s stock worth $1,405,959,000 after purchasing an additional 741,541 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Paper by 5.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,820,470 shares of the basic materials company’s stock worth $858,623,000 after acquiring an additional 1,061,362 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of International Paper by 14.7% during the 2nd quarter. Invesco Ltd. now owns 16,419,542 shares of the basic materials company’s stock worth $711,294,000 after acquiring an additional 2,104,748 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of International Paper by 8.7% during the 2nd quarter. Northern Trust Corp now owns 4,620,462 shares of the basic materials company’s stock worth $200,157,000 after acquiring an additional 370,194 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of International Paper by 11.7% during the 2nd quarter. Schroder Investment Management Group now owns 4,560,494 shares of the basic materials company’s stock worth $197,561,000 after acquiring an additional 476,899 shares during the last quarter. 81.06% 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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