International Paper (NYSE:IP) Cut to Hold at ValuEngine

International Paper (NYSE:IP) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

A number of other equities analysts have also recently commented on IP. Wells Fargo & Co cut their target price on shares of International Paper from $43.00 to $42.00 and set a “market perform” rating on the stock in a report on Tuesday, October 8th. Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a report on Tuesday, November 5th. Exane BNP Paribas began coverage on shares of International Paper in a report on Monday. They issued an “outperform” rating and a $53.00 target price on the stock. KeyCorp reaffirmed a “sell” rating and issued a $38.00 target price on shares of International Paper in a report on Thursday, October 31st. Finally, BNP Paribas began coverage on shares of International Paper in a report on Monday. They issued an “outperform” rating and a $53.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus target price of $45.82.

IP stock opened at $46.24 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. International Paper has a twelve month low of $36.45 and a twelve month high of $48.24. The company’s 50 day moving average is $44.40 and its two-hundred day moving average is $42.46. The stock has a market cap of $18.17 billion, a P/E ratio of 8.69 and a beta of 1.53.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. International Paper had a net margin of 6.03% and a return on equity of 26.97%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts predict that International Paper will post 4.38 earnings per share for the current year.

In related news, SVP W. Michael Jr. Amick sold 8,000 shares of International Paper stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $44.83, for a total value of $358,640.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Timothy S. Nicholls sold 45,000 shares of International Paper stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.44, for a total transaction of $1,909,800.00. Following the completion of the transaction, the senior vice president now owns 60,490 shares in the company, valued at $2,567,195.60. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Proffitt & Goodson Inc. purchased a new position in International Paper in the 3rd quarter valued at $33,000. Citizens Financial Group Inc RI boosted its position in shares of International Paper by 138.4% during the 2nd quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 465 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of International Paper by 32.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of International Paper during the 2nd quarter worth $45,000. Finally, Capital Investment Advisory Services LLC boosted its position in shares of International Paper by 83.3% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,100 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.

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.

Featured Article: Outstanding Shares and The Effect on Share Price

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.