International Paper (NYSE:IP) Reaches New 1-Year High at $41.30

International Paper (NYSE:IP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.30 and last traded at $39.58, with a volume of 6757495 shares traded. The stock had previously closed at $36.92.

Analyst Ratings Changes

IP has been the topic of several recent analyst reports. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial reissued a “buy” rating and set a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Wells Fargo & Company dropped their price target on 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. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.57.

International Paper Stock Up 6.2 %

The firm has a market cap of $13.62 billion, a P/E ratio of 75.33 and a beta of 1.01. The company’s 50-day simple moving average is $36.75 and its 200 day simple moving average is $35.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the business posted $0.53 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. Research analysts anticipate that International Paper will post 1.88 EPS for the current fiscal year.

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 9,400 shares of company stock valued at $331,402. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC grew its stake in International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 295 shares in the last quarter. Czech National Bank grew its stake in International Paper by 0.5% in the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 295 shares in the last quarter. Kentucky Retirement Systems increased its holdings in International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after purchasing an additional 298 shares during the period. Allworth Financial LP lifted its holdings in shares of International Paper by 4.7% in the 3rd quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock worth $243,000 after buying an additional 306 shares during the period. Finally, XML Financial LLC grew its position in shares of International Paper by 0.4% during the 3rd quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock worth $3,116,000 after buying an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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.