International Paper (NYSE:IP) Shares Gap Up – Here’s What Happened

International Paper (NYSE:IP)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $52.83, but opened at $54.92. International Paper shares last traded at $55.04, with a volume of 1,616,654 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IP. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Stock Up 5.1 %

The company has a market cap of $29.20 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 0.39 and a beta of 1.02. The business has a fifty day moving average of $54.94 and a two-hundred day moving average of $53.54. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. International Paper’s dividend payout ratio (DPR) is 117.83%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IP. Total Wealth Planning & Management Inc. purchased a new stake in International Paper during the 4th quarter worth approximately $403,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of International Paper during the fourth quarter worth approximately $9,950,000. Bernard Wealth Management Corp. acquired a new position in International Paper in the 4th quarter valued at $37,000. Yoffe Investment Management LLC purchased a new position in International Paper in the 4th quarter valued at $378,000. Finally, LifeWealth Investments LLC acquired a new stake in International Paper during the 4th quarter worth $432,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.