Argus Reiterates “Buy” Rating for International Paper (NYSE:IP)

International Paper (NYSE:IP)‘s stock had its “buy” rating restated by stock analysts at Argus in a research note issued to investors on Thursday, Benzinga reports. They presently have a $45.00 target price on the basic materials company’s stock. Argus’ price target would suggest a potential upside of 29.28% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. boosted their target price on International Paper from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank Of Canada boosted their target price on International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Friday, September 11th. Loop Capital set a $61.00 target price on International Paper in a report on Tuesday, July 28th. Finally, Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.82.

International Paper Price Performance

International Paper stock traded down $0.89 during mid-day trading on Thursday, hitting $34.81. The stock had a trading volume of 2,353,163 shares, compared to its average volume of 6,305,987. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. International Paper has a one year low of $29.26 and a one year high of $50.25. The firm’s 50 day moving average is $38.82 and its 200 day moving average is $36.46. The firm has a market capitalization of $18.43 billion, a P/E ratio of -5.34, a P/E/G ratio of 4.49 and a beta of 0.93.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm’s revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. On average, sell-side analysts forecast that International Paper will post 1.33 earnings per share for the current fiscal year.

Insider Activity at International Paper

In related news, VP William Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. acquired a new stake in International Paper in the fourth quarter valued at approximately $25,000. Aberdeen Wealth Management LLC acquired a new position in International Paper during the second quarter worth $27,000. Ascentis Independent Advisors acquired a new position in International Paper during the first quarter worth $28,000. Delta Asset Management LLC TN purchased a new position in shares of International Paper in the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC lifted its position in shares of International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

International Paper Company (NYSE: IP) is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.