International Paper (IP) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of International Paper (NYSE:IP) from a buy rating to a neutral rating in a report released on Tuesday, BenzingaRatingsTable reports.

IP has been the topic of several other research reports. Wells Fargo & Co downgraded International Paper from an outperform rating to a market perform rating in a research report on Wednesday, January 9th. Barclays dropped their target price on International Paper from $40.00 to $39.00 and set an underweight rating on the stock in a research report on Monday, April 1st. Stephens upgraded International Paper from an equal weight rating to an overweight rating and increased their target price for the stock from $50.00 to $60.00 in a research report on Wednesday, January 23rd. Citigroup restated a buy rating and set a $53.00 target price on shares of International Paper in a research report on Friday, February 1st. Finally, Zacks Investment Research downgraded International Paper from a hold rating to a sell rating in a research report on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. International Paper currently has an average rating of Hold and a consensus price target of $53.00.

International Paper stock opened at $44.91 on Tuesday. International Paper has a 12 month low of $37.55 and a 12 month high of $59.57. The company has a current ratio of 1.49, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $18.90 billion, a P/E ratio of 8.44, a PEG ratio of 0.97 and a beta of 1.57.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.61 by $0.04. International Paper had a return on equity of 30.83% and a net margin of 8.63%. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.86 billion. On average, analysts predict that International Paper will post 5.13 earnings per share for the current year.

In related news, insider Gregory T. Wanta sold 9,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $47.72, for a total value of $429,480.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John V. Sims sold 12,667 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $45.96, for a total value of $582,175.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,760 shares of company stock worth $4,016,587. Insiders own 0.32% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alambic Investment Management L.P. bought a new position in shares of International Paper during the fourth quarter valued at about $287,000. American Trust Investment Advisors LLC grew its stake in shares of International Paper by 59.2% during the fourth quarter. American Trust Investment Advisors LLC now owns 60,850 shares of the basic materials company’s stock valued at $2,456,000 after buying an additional 22,635 shares during the last quarter. Webster Bank N. A. grew its stake in shares of International Paper by 64.6% during the fourth quarter. Webster Bank N. A. now owns 7,645 shares of the basic materials company’s stock valued at $308,000 after buying an additional 3,000 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in shares of International Paper by 58.6% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 22,680 shares of the basic materials company’s stock valued at $915,000 after buying an additional 8,380 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of International Paper by 2,240.1% during the fourth quarter. Meeder Asset Management Inc. now owns 63,534 shares of the basic materials company’s stock valued at $2,565,000 after buying an additional 60,819 shares during the last quarter. 81.36% of the stock is currently owned by institutional investors and hedge funds.

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: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for International Paper (NYSE:IP)

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