International Paper (NYSE:IP) Shares Gap Up – Time to Buy?

International Paper (NYSE:IP) gapped up before the market opened on Tuesday . The stock had previously closed at $52.83, but opened at $54.92. International Paper shares last traded at $55.04, with a volume of 1,616,654 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on IP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price for the company. Truist Financial reissued a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

The firm has a market capitalization of $29.20 billion, a PE ratio of 35.35, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a fifty day moving average price of $54.94 and a 200-day moving average price of $53.54.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Institutional Investors Weigh In On International Paper

Institutional investors have recently added to or reduced their stakes in the business. SPC Financial Inc. raised its position in shares of International Paper by 1.4% in the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in shares of International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after buying an additional 204 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock worth $665,000 after buying an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after buying an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

About International Paper

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.