International Paper (NYSE:IP) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of International Paper (NYSE:IP) in a report released on Thursday, Marketbeat reports. The firm issued an overweight rating and a $59.00 target price on the basic materials company’s stock.

IP has been the topic of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. 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 research note on Friday, January 31st. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Stock Down 0.8 %

Shares of IP opened at $52.18 on Thursday. International Paper has a 52-week low of $33.16 and a 52-week 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. The stock has a fifty day simple moving average of $55.02 and a two-hundred day simple moving average of $53.40. The company has a market capitalization of $27.45 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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, equities analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

Institutional Trading of International Paper

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings 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 in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of International Paper in the third quarter worth $24,327,000. Wedmont Private Capital purchased a new stake in shares of International Paper during the fourth quarter worth $376,000. Everence Capital Management Inc. acquired a new stake in shares of International Paper in the fourth quarter valued at $828,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in International Paper by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after purchasing an additional 15,904 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.