International Paper (NYSE:IP) Short Interest Update

International Paper (NYSE:IP) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 10,600,000 shares, an increase of 66.1% from the March 31st total of 6,380,000 shares. Based on an average daily volume of 5,330,000 shares, the short-interest ratio is currently 2.0 days. Approximately 3.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

IP has been the subject of several recent analyst reports. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Truist Financial restated a “buy” rating and set a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company lowered their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.13.

International Paper Trading Up 0.9 %

International Paper stock opened at $33.83 on Monday. The stock has a 50-day moving average price of $36.64 and a 200 day moving average price of $35.81. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 69.04 and a beta of 0.99. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts anticipate that International Paper will post 1.9 EPS for the current year.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 8,800 shares of company stock worth $310,438. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathstone Family Office LLC acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $1,164,000. StrategIQ Financial Group LLC acquired a new stake in International Paper during the fourth quarter valued at $2,271,000. Metis Global Partners LLC increased its holdings in International Paper by 6.7% in the third quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock valued at $774,000 after buying an additional 1,376 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of International Paper by 40.5% in the third quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock worth $743,000 after acquiring an additional 6,033 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of International Paper by 263.1% during the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock worth $4,151,000 after acquiring an additional 83,203 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

About International Paper

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.