International Paper (NYSE:IP) Hits New 12-Month High at $41.30

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

Analyst Ratings Changes

IP has been the topic of a number of research analyst reports. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. 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. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Truist Financial reaffirmed a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company cut their price objective 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.57.

International Paper Stock Up 1.4 %

The firm has a market cap of $13.84 billion, a PE ratio of 81.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The company’s 50-day simple moving average is $37.02 and its two-hundred day simple moving average is $35.93.

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

Insider Buying and Selling at International Paper

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 directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 9,400 shares of company stock valued at $331,402 in the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its stake in International Paper by 37.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 295 shares in the last quarter. Czech National Bank boosted its holdings in shares of International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after acquiring an additional 295 shares during the last quarter. Kentucky Retirement Systems boosted its holdings in shares of International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of International Paper by 4.7% during the 3rd quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 306 shares during the last quarter. Finally, XML Financial LLC boosted its holdings 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 valued at $3,116,000 after acquiring an additional 312 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.