International Paper (NYSE:IP) had its price objective decreased by Deutsche Bank from $55.00 to $46.00 in a report published on Thursday morning, The Fly reports. Deutsche Bank currently has a hold rating on the basic materials company’s stock.
A number of other research firms have also recently commented on IP. Citigroup dropped their price objective on International Paper from $67.00 to $51.00 and set a buy rating for the company in a research report on Thursday, October 11th. Barclays dropped their price objective on International Paper from $45.00 to $44.00 and set an underweight rating for the company in a research report on Monday, October 29th. Zacks Investment Research upgraded International Paper from a sell rating to a hold rating in a research report on Monday, October 29th. Goldman Sachs Group cut International Paper from a buy rating to a neutral rating and set a $53.00 price objective for the company. in a research report on Wednesday, October 10th. Finally, Seaport Global Securities began coverage on International Paper in a research report on Tuesday, October 23rd. They set a neutral rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. International Paper currently has an average rating of Hold and a consensus target price of $56.36.
Shares of IP stock opened at $45.68 on Thursday. International Paper has a fifty-two week low of $37.55 and a fifty-two week high of $66.94. The firm has a market capitalization of $18.50 billion, a PE ratio of 13.09, a PEG ratio of 0.87 and a beta of 1.48. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.59 and a quick ratio of 1.13.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Wednesday, February 20th. International Paper’s dividend payout ratio (DPR) is 57.31%.
International Paper announced that its board has approved a stock repurchase plan on Tuesday, October 9th that allows the company to repurchase $430.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bridge Creek Capital Management LLC lifted its stake in shares of International Paper by 49.1% in the 4th quarter. Bridge Creek Capital Management LLC now owns 34,325 shares of the basic materials company’s stock valued at $1,385,000 after purchasing an additional 11,300 shares in the last quarter. First Command Bank lifted its stake in shares of International Paper by 56.7% in the 4th quarter. First Command Bank now owns 1,185 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 429 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its stake in shares of International Paper by 16.8% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 58,430 shares of the basic materials company’s stock valued at $2,358,000 after purchasing an additional 8,405 shares in the last quarter. Eastern Bank lifted its stake in shares of International Paper by 1.4% in the 4th quarter. Eastern Bank now owns 40,017 shares of the basic materials company’s stock valued at $1,615,000 after purchasing an additional 561 shares in the last quarter. Finally, Alpha Windward LLC lifted its stake in shares of International Paper by 52.8% in the 4th quarter. Alpha Windward LLC now owns 1,155 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 80.91% of the company’s stock.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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