Bank of America Initiates Coverage on International Paper (NYSE:IP)

Research analysts at Bank of America assumed coverage on shares of International Paper (NYSE:IP) in a research note issued on Thursday. The firm set a “neutral” rating on the basic materials company’s stock.

IP has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Stock Performance

IP stock traded up $0.98 during trading on Thursday, reaching $55.61. 5,115,116 shares of the stock were exchanged, compared to its average volume of 12,368,874. The stock has a 50 day simple moving average of $55.48 and a 200-day simple moving average of $52.17. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.32 billion, a P/E ratio of 35.42 and a beta of 1.02. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, sell-side analysts anticipate that International Paper will post 2.89 earnings per share for the current year.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Paper

Hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares during the last quarter. SPC Financial Inc. increased its stake 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 acquiring an additional 200 shares during the last quarter. AlphaMark Advisors LLC raised its position in shares of International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares during the period. Inspire Advisors LLC grew its holdings in International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

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.