International Paper (NYSE:IP) Stock Rating Lowered by Wall Street Zen

International Paper (NYSE:IP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other brokerages have also recently commented on IP. Wells Fargo & Company upped their price target on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, May 1st. Bank of America downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Tuesday, July 14th. UBS Group increased their target price on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of International Paper in a research note on Friday, July 24th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

International Paper Trading Down 0.9%

NYSE:IP opened at $41.21 on Friday. International Paper has a 12 month low of $29.26 and a 12 month high of $50.25. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $37.94 and its 200 day moving average is $37.95. The stock has a market capitalization of $21.82 billion, a PE ratio of -6.32 and a beta of 0.94.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the company earned $0.20 earnings per share. International Paper’s revenue was down 11.3% compared to the same quarter last year. Sell-side analysts expect that International Paper will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This trade represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

Several large investors have recently added to or reduced their stakes in IP. Johnson Financial Group Inc. bought a new position in International Paper in the 2nd quarter worth about $229,000. one8zero8 LLC bought a new stake in shares of International Paper during the 2nd quarter valued at about $236,000. West Family Investments Inc. bought a new stake in shares of International Paper during the 2nd quarter valued at about $384,000. NewEdge Wealth LLC purchased a new position in shares of International Paper during the second quarter worth about $222,000. Finally, Danske Bank A S purchased a new position in shares of International Paper during the second quarter worth about $9,429,000. 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.