International Paper (NYSE:IP) Downgraded to “Underweight” at KeyCorp

KeyCorp downgraded shares of International Paper (NYSE:IP) from a sector weight rating to an underweight rating in a research report released on Monday, BenzingaRatingsTable reports. They currently have $38.00 price target on the basic materials company’s stock.

Other analysts also recently issued research reports about the company. Bank of America downgraded Propetro from a buy rating to a neutral rating in a research report on Tuesday, April 16th. Citigroup boosted their price objective on Silgan from $34.00 to $36.00 and gave the company a buy rating in a research report on Thursday, July 11th. UBS Group reiterated a sell rating on shares of in a research report on Monday, June 24th. Royal Bank of Canada upgraded Snap from a sector perform rating to an outperform rating and boosted their price objective for the company from $10.00 to $17.00 in a research report on Friday, April 5th. Finally, Stephens set a $120.00 price objective on Electronic Arts and gave the company a buy rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $47.82.

Shares of NYSE IP opened at $42.50 on Monday. International Paper has a 12 month low of $37.55 and a 12 month high of $54.95. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.72 and a beta of 1.49. The stock’s 50-day simple moving average is $43.19.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.20. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.73 billion. International Paper had a return on equity of 31.35% and a net margin of 7.32%. International Paper’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, analysts anticipate that International Paper will post 4.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s payout ratio is currently 37.59%.

In other International Paper news, SVP Jeanmichel Ribieras sold 5,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total value of $234,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $45,170.00. Following the completion of the transaction, the senior vice president now directly owns 30,671 shares in the company, valued at approximately $1,385,409.07. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Shulman DeMeo Asset Management LLC grew its position in shares of International Paper by 10.5% during the second quarter. Shulman DeMeo Asset Management LLC now owns 8,158 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 775 shares in the last quarter. YorkBridge Wealth Partners LLC grew its position in shares of International Paper by 26.6% during the second quarter. YorkBridge Wealth Partners LLC now owns 11,778 shares of the basic materials company’s stock worth $510,000 after purchasing an additional 2,477 shares in the last quarter. Capital Investment Advisors LLC purchased a new stake in shares of International Paper during the second quarter worth about $280,000. CX Institutional grew its position in shares of International Paper by 5.8% during the second quarter. CX Institutional now owns 47,635 shares of the basic materials company’s stock worth $2,064,000 after purchasing an additional 2,599 shares in the last quarter. Finally, American National Bank grew its position in shares of International Paper by 40.4% during the second quarter. American National Bank now owns 8,639 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 2,485 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Further Reading: Equal Weight Rating

Analyst Recommendations for International Paper (NYSE:IP)

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