International Paper (NYSE:IP) Coverage Initiated by Analysts at Bank of America

Bank of America started coverage on shares of International Paper (NYSE:IP) in a research note issued to investors on Thursday morning. The brokerage issued a neutral rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Trading Up 1.8 %

Shares of IP stock opened at $55.59 on Thursday. The company’s fifty day simple moving average is $55.48 and its two-hundred day simple moving average is $52.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 35.41 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, analysts anticipate that International Paper will post 2.89 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. International Paper’s dividend payout ratio is currently 117.84%.

Insider Transactions at International Paper

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 shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of International Paper

Several institutional investors and hedge funds have recently bought and sold shares of IP. Brooklyn Investment Group purchased a new stake in International Paper in the third quarter worth about $25,000. Sierra Ocean LLC purchased a new stake in International Paper in the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper in the fourth quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in International Paper in the third quarter worth about $28,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of International Paper during the third quarter valued at approximately $28,000. 81.95% of the stock is currently owned by hedge funds and other 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.