Today The International Paper Company (IP) Lifted to “Buy” at Jefferies Group LLC

Today The International Paper Company (IP) Lifted to “Buy” at Jefferies Group LLC

Jefferies Group LLC upgraded shares of International Paper Company (NYSE:IP) from a hold rating to a buy rating in a report published on Friday morning. Jefferies Group LLC currently has $65.00 price objective on the stock, up from their previous price objective of $55.00.

A number of other equities research analysts have also recently commented on IP. Goldman Sachs Group, Inc. (The) initiated coverage on shares of International Paper Company in a research report on Thursday, September 22nd. They set a neutral rating and a $49.00 target price for the company. Vetr raised shares of International Paper Company from a sell rating to a buy rating and set a $51.66 target price for the company in a research report on Thursday, September 22nd. Deutsche Bank AG set a $50.00 target price on shares of International Paper Company and gave the company a hold rating in a research report on Friday, September 23rd. Zacks Investment Research raised shares of International Paper Company from a hold rating to a strong-buy rating and set a $55.00 target price for the company in a research report on Monday, October 3rd. Finally, Macquarie lowered shares of International Paper Company from a market perform rating to an underperform rating in a research note on Tuesday, October 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $50.33.

International Paper Company (NYSE:IP) opened at 56.87 on Friday. The stock’s 50 day moving average is $53.62 and its 200 day moving average is $48.55. International Paper Company has a 52 week low of $32.53 and a 52 week high of $56.93. The stock has a market cap of $23.39 billion, a PE ratio of 27.39 and a beta of 1.56.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.31%. The ex-dividend date is Monday, February 13th. International Paper Company’s payout ratio is 88.52%.

In other news, SVP Sharon R. Ryan sold 4,871 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $53.47, for a total value of $260,452.37. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tommy S. Joseph sold 11,700 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $48.88, for a total transaction of $571,896.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,684 shares of company stock worth $1,800,424. Insiders own 0.64% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in International Paper Company by 3.8% in the third quarter. BlackRock Fund Advisors now owns 11,208,706 shares of the company’s stock valued at $537,794,000 after buying an additional 406,477 shares in the last quarter. BlackRock Group LTD increased its position in International Paper Company by 0.6% in the second quarter. BlackRock Group LTD now owns 5,647,106 shares of the company’s stock valued at $239,325,000 after buying an additional 34,844 shares in the last quarter. Northern Trust Corp increased its position in International Paper Company by 0.9% in the third quarter. Northern Trust Corp now owns 4,781,105 shares of the company’s stock valued at $229,397,000 after buying an additional 42,089 shares in the last quarter. APG Asset Management N.V. increased its position in International Paper Company by 1.3% in the second quarter. APG Asset Management N.V. now owns 4,072,053 shares of the company’s stock valued at $172,574,000 after buying an additional 53,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in International Paper Company by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 3,960,106 shares of the company’s stock valued at $190,006,000 after buying an additional 167,777 shares in the last quarter. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

About International Paper Company

International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.

Related posts

Leave a Comment