International Paper (NYSE:IP) Raised to Buy at Argus

Argus upgraded shares of International Paper (NYSE:IP) from a hold rating to a buy rating in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has $52.00 price objective on the basic materials company’s stock.

Several other equities research analysts also recently issued reports on IP. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a hold rating and a $48.70 price objective for the company. Wells Fargo & Company upped their target price 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. Jefferies Financial Group raised International Paper from a hold rating to a buy rating and lifted their price target for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Seaport Res Ptn upgraded International Paper from a hold rating to a strong-buy rating in a report on Friday, June 28th. Finally, Truist Financial increased their price objective on International Paper from $52.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of Moderate Buy and a consensus price target of $50.21.

International Paper Stock Up 2.0 %

NYSE:IP opened at $46.12 on Wednesday. International Paper has a 1 year low of $31.76 and a 1 year high of $47.40. The stock has a 50-day moving average price of $45.06 and a two-hundred day moving average price of $40.23. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 94.12 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.59 EPS. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts expect that International Paper will post 1.64 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the sale, the director now owns 41,602 shares in the company, valued at approximately $1,924,508.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $133,440. 0.55% of the stock is owned by insiders.

Institutional Trading of International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Paper during the 4th quarter worth approximately $37,000. Janney Montgomery Scott LLC boosted its stake in International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the period. Wellington Management Group LLP boosted its position in shares of International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after acquiring an additional 199,687 shares during the period. Franklin Resources Inc. grew its position in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in International Paper during the first quarter worth approximately $1,312,000. 81.95% of the stock is owned by institutional investors.

International Paper Company Profile

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.