International Paper (NYSE:IP) Stock Rating Upgraded by StockNews.com

International Paper (NYSE:IP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other analysts have also commented on IP. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday. They issued an “overweight” rating and a $59.00 price target on the stock. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Stock Performance

International Paper stock traded down $0.44 on Thursday, hitting $52.18. The company’s stock had a trading volume of 6,445,566 shares, compared to its average volume of 9,840,662. The company has a fifty day moving average price of $55.02 and a 200-day moving average price of $53.40. The firm has a market cap of $27.45 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a one year low of $33.16 and a one year high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. On average, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Institutional Investors Weigh In On International Paper

Institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. FMR LLC raised its position in International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after buying an additional 8,720,575 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after acquiring an additional 2,484,386 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock worth $212,522,000 after acquiring an additional 2,266,762 shares during the last quarter. Finally, Norges Bank bought a new position in shares of International Paper during the 4th quarter worth approximately $109,201,000. 81.95% of the stock is owned by institutional investors.

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.