International Paper (NYSE:IP) Stock Rating Lowered by Zacks Research

International Paper (NYSE:IP) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

IP has been the topic of several other reports. Seaport Res Ptn downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial raised their price target on shares of International Paper from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. BNP Paribas upgraded International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, November 24th. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Wells Fargo & Company decreased their target price on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.65.

International Paper Price Performance

IP traded up $0.01 during trading on Monday, hitting $42.57. The company’s stock had a trading volume of 1,551,274 shares, compared to its average volume of 4,505,013. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. International Paper has a twelve month low of $35.56 and a twelve month high of $60.15. The business’s fifty day simple moving average is $38.94 and its 200 day simple moving average is $44.76. The firm has a market capitalization of $22.48 billion, a price-to-earnings ratio of -16.31, a P/E/G ratio of 0.48 and a beta of 1.10.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 56.4% compared to the same quarter last year. On average, equities research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Paper

A number of institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its holdings in International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of International Paper during the 2nd quarter valued at about $33,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of International Paper in the second quarter valued at about $35,000. Kelleher Financial Advisors purchased a new stake in shares of International Paper in the third quarter valued at about $36,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in International Paper during the second quarter worth about $43,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.