International Paper (NYSE:IP) Now Covered by Bank of America

Research analysts at Bank of America started coverage on shares of International Paper (NYSE:IP) in a research note issued on Thursday. The brokerage 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 restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Performance

NYSE IP traded up $0.98 on Thursday, hitting $55.61. The stock had a trading volume of 5,115,116 shares, compared to its average volume of 12,368,874. The company’s 50-day moving average is $55.48 and its two-hundred day moving average is $52.17. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 35.42 and a beta of 1.02. 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 has a one year low of $33.16 and a one year high of $60.36.

International Paper (NYSE:IP) last released its earnings results 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 net margin of 2.99% and a return on equity of 4.75%. On average, analysts expect that International Paper will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in shares of International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of International Paper in the third quarter valued at about $24,327,000. Aptus Capital Advisors LLC increased its stake in shares of International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 785 shares during the period. Wedmont Private Capital acquired a new position in shares of International Paper during the 4th quarter worth about $376,000. Finally, Curi RMB Capital LLC bought a new stake in International Paper during the 3rd quarter valued at approximately $4,870,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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.