International Paper (NYSE:IP) Stock Rating Reaffirmed by KeyCorp

International Paper (NYSE:IP)‘s stock had its “hold” rating restated by stock analysts at KeyCorp in a report issued on Tuesday, January 2nd. KeyCorp also issued estimates for International Paper’s FY2018 earnings at $4.12 EPS.

The analysts wrote, “We are updating our estimates for IP to reflect the completion of the transfer of its N.A. Consumer Packaging business to Graphic Packaging as well as a lower (book) tax rate. We are maintaining our 2017 adj. EBITDA estimate and reducing our 2018 estimate to reflect one fewer quarter of the N.A. Consumer Packaging business. Our 2018 adj. EPS estimate is increasing on account of a lower tax rate and to a lesser extent lower interest expense.””

Several other research firms also recently issued reports on IP. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. BMO Capital Markets reiterated a “buy” rating and set a $62.00 price objective on shares of International Paper in a research note on Friday, November 24th. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of International Paper in a research note on Monday, October 23rd. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Stephens began coverage on shares of International Paper in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.92.

International Paper (NYSE:IP) traded up $1.35 during trading hours on Tuesday, hitting $64.75. 3,130,000 shares of the stock were exchanged, compared to its average volume of 2,170,000. International Paper has a twelve month low of $49.60 and a twelve month high of $66.73. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $26,740.00, a price-to-earnings ratio of 29.84, a PEG ratio of 1.48 and a beta of 1.47.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. International Paper’s revenue for the quarter was up 12.3% compared to the same quarter last year. equities analysts expect that International Paper will post 3.51 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of IP. Victory Capital Management Inc. raised its holdings in International Paper by 14.2% in the second quarter. Victory Capital Management Inc. now owns 144,091 shares of the basic materials company’s stock valued at $8,157,000 after acquiring an additional 17,956 shares in the last quarter. Pacer Advisors Inc. raised its holdings in International Paper by 8.3% in the second quarter. Pacer Advisors Inc. now owns 8,803 shares of the basic materials company’s stock valued at $498,000 after acquiring an additional 674 shares in the last quarter. Keybank National Association OH raised its holdings in shares of International Paper by 2.5% during the second quarter. Keybank National Association OH now owns 18,682 shares of the basic materials company’s stock worth $1,058,000 after purchasing an additional 454 shares during the period. Principal Financial Group Inc. raised its holdings in shares of International Paper by 8.8% during the second quarter. Principal Financial Group Inc. now owns 732,077 shares of the basic materials company’s stock worth $41,443,000 after purchasing an additional 59,264 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of International Paper by 21.7% during the second quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock worth $2,891,000 after purchasing an additional 9,093 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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About International Paper

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.

Analyst Recommendations for International Paper (NYSE:IP)

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