Shares of International Paper (NYSE:IP – Get Rating) have received a consensus recommendation of “Hold” from the fifteen research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $38.55.
Several equities analysts recently commented on the company. 58.com reiterated a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. UBS Group upgraded shares of International Paper from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $43.00 in a report on Friday, February 3rd. Truist Financial boosted their target price on shares of International Paper from $30.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. Wells Fargo & Company boosted their target price on shares of International Paper from $32.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Finally, Argus boosted their target price on shares of International Paper from $43.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 2nd.
International Paper Stock Performance
NYSE:IP opened at $31.79 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.55 and a quick ratio of 0.97. The firm has a market cap of $11.11 billion, a PE ratio of 8.81 and a beta of 1.05. The firm has a 50 day simple moving average of $35.36 and a 200-day simple moving average of $35.96. International Paper has a 1-year low of $30.69 and a 1-year high of $49.32.
Insiders Place Their Bets
In other International Paper news, CEO Mark S. Sutton sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $34.58, for a total transaction of $2,939,300.00. Following the completion of the sale, the chief executive officer now directly owns 143,000 shares in the company, valued at $4,944,940. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Timothy S. Nicholls sold 5,000 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $38.95, for a total value of $194,750.00. Following the completion of the transaction, the senior vice president now directly owns 129,261 shares in the company, valued at $5,034,715.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark S. Sutton sold 85,000 shares of International Paper stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $34.58, for a total transaction of $2,939,300.00. Following the sale, the chief executive officer now directly owns 143,000 shares in the company, valued at approximately $4,944,940. The disclosure for this sale can be found here. Insiders sold a total of 93,567 shares of company stock worth $3,261,447 over the last ninety days. 0.51% of the stock is owned by company insiders.
Institutional Trading of International Paper
Large investors have recently modified their holdings of the business. Ten Capital Wealth Advisors LLC grew its position in shares of International Paper by 125.3% during the first quarter. Ten Capital Wealth Advisors LLC now owns 1,417 shares of the basic materials company’s stock worth $51,000 after buying an additional 788 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in International Paper by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 160,190 shares of the basic materials company’s stock valued at $5,776,000 after acquiring an additional 910 shares during the last quarter. CX Institutional acquired a new position in International Paper during the 1st quarter worth $4,488,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of International Paper by 67.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,546 shares of the basic materials company’s stock valued at $4,058,000 after purchasing an additional 45,466 shares in the last quarter. Finally, Chase Investment Counsel Corp lifted its position in shares of International Paper by 16.8% during the first quarter. Chase Investment Counsel Corp now owns 7,605 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 1,094 shares during the last quarter. 83.64% 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 is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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