International Paper (NYSE:IP) Downgraded to Underperform Rating by BNP Paribas

International Paper (NYSE:IP) was downgraded by equities researchers at BNP Paribas from a “neutral” rating to an “underperform” rating in a report released on Wednesday, Marketbeat.com reports. They currently have a $48.20 price objective on the basic materials company’s stock. BNP Paribas’ price target points to a potential downside of 15.88% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial restated a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.54.

International Paper Stock Performance

NYSE:IP opened at $57.30 on Wednesday. International Paper has a 1-year low of $31.76 and a 1-year high of $59.52. The stock has a market cap of $19.91 billion, a P/E ratio of 48.97 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a 50-day moving average of $49.78 and a two-hundred day moving average of $46.20.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm earned $0.64 EPS. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.24 earnings per share for the current fiscal year.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now owns 41,002 shares in the company, valued at $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,440 shares of company stock valued at $938,486. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of International Paper

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of International Paper by 47.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,046 shares of the basic materials company’s stock worth $470,000 after purchasing an additional 3,854 shares in the last quarter. Empowered Funds LLC bought a new position in shares of International Paper in the first quarter valued at $668,000. SG Americas Securities LLC lifted its position in shares of International Paper by 52.4% during the 1st quarter. SG Americas Securities LLC now owns 45,720 shares of the basic materials company’s stock valued at $1,784,000 after acquiring an additional 15,712 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in shares of International Paper during the 1st quarter worth $219,000. Finally, Sei Investments Co. grew its holdings in shares of International Paper by 9.2% in the 1st quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company’s stock worth $16,659,000 after acquiring an additional 35,857 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

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.