Other things to like about IP, according to Cramer, are the company's ample dividend and its $1.5 billion stock buyback program. Nothing shows how confident management is about the future than a big dividend and buyback, he added.
Given that IP just delivered an eight-cents-a-share earnings beat, it's no wonder this stock is just off its 52-week high. Shares currently trade at just 11 times earnings with a 15% long-term growth rate, making them a steal given its outlook and the fact that IP shares trade a full 7% below its peers.
Cramer's Anointed Stocks
With the fourth quarter nearing, Cramer said it's time to load up on the "anointed stocks," those big winners that fund managers will be piling into over the coming weeks to be able to show their shareholders they, too, are invested in all of the hottest names.
"If you can't beat 'em, join 'em," is a tried-and-true strategy on Wall Street, Cramer continued, which is why there are four stocks that he said investors should start buying ahead of the move.Netflix (NFLX - Get Report) is the first stock Cramer said shouldn't be missed. This company is growing like a weed with accelerating revenue growth thanks to its wildly-successful original programming that's up for no less than 14 Emmy Awards. Are shares of Netflix incredibly expense by traditional metrics? You bet, said Cramer. But Netflix is no traditional company. Next on the list is Best Buy (BBY - Get Report), the left-for-dead electronics retailer that's gotten a new lease on life thanks to a new CEO. This stock was all but written off last year, Cramer noted, but has since managed a remarkable turnaround. Also in turnaround mode: GameStop (GME - Get Report), the game retailer that's been cutting costs and right-sizing itself in advance of a huge new gaming cycle that will be ushered in next quarter with new PlayStation and Xbox consoles. GameStop shares trade at 13.7 times earnings with a 14% growth rate. Finally, there's TripAdvisor (TRIP - Get Report), the travel Web site with over one million reviews. Cramer said that TripAdvisor reviews can make or break travel destinations and this company is in secular growth mode as a result. Shares are still cheap at 32 times earnings with a 19% growth rate.