International Paper Company (IP) Receives Buy Rating from Jefferies Group LLC

International Paper Company (NYSE:IP)‘s stock had its “buy” rating reiterated by Jefferies Group LLC in a report released on Friday, July 14th. They currently have a $66.00 price target on the basic materials company’s stock, up from their prior price target of $65.00. Jefferies Group LLC’s price target would suggest a potential upside of 25.50% from the stock’s current price. Jefferies Group also issued estimates for International Paper’s Q2 2017 earnings at $0.64 EPS, Q4 2017 earnings at $1.09 EPS and FY2017 earnings at $3.50 EPS.

IP has been the subject of several other reports. Goldman Sachs Group, Inc. (The) upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $64.00 in a research note on Thursday, July 13th. Royal Bank Of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $56.00 in a research note on Wednesday, April 19th. BidaskClub upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Tuesday, July 11th. Finally, Barclays PLC increased their price target on International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $57.89.

International Paper (NYSE:IP) opened at 52.59 on Friday. The firm’s 50-day moving average price is $56.00 and its 200-day moving average price is $53.67. The company has a market cap of $21.72 billion, a PE ratio of 26.71 and a beta of 1.46. International Paper has a one year low of $43.55 and a one year high of $58.95.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. International Paper’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. On average, equities research analysts forecast that International Paper will post $3.47 earnings per share for the current fiscal year.

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In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.64% of the company’s stock.

A number of institutional investors have recently modified their holdings of IP. Hefty Wealth Partners raised its position in shares of International Paper by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock valued at $160,000 after buying an additional 3,098 shares during the last quarter. Trust Co raised its position in shares of International Paper by 3.0% in the fourth quarter. Trust Co now owns 6,432 shares of the basic materials company’s stock valued at $341,000 after buying an additional 190 shares during the last quarter. Manning & Napier Advisors LLC raised its position in International Paper by 10.1% in the first quarter. Manning & Napier Advisors LLC now owns 70,924 shares of the basic materials company’s stock valued at $3,601,000 after buying an additional 6,505 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in International Paper by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 355,123 shares of the basic materials company’s stock valued at $18,033,000 after buying an additional 10,901 shares in the last quarter. Finally, Park National Corp OH raised its position in International Paper by 7.0% in the first quarter. Park National Corp OH now owns 5,849 shares of the basic materials company’s stock valued at $297,000 after buying an additional 383 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors.

International Paper Company Profile

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

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