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

International Paper (NYSE:IP)’s stock price 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 trading hands. The stock had previously closed at $36.92.

Analyst Ratings Changes

Several research firms recently commented on IP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Wells Fargo & Company reduced their target price 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, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, International Paper has a consensus rating of “Hold” and a consensus target price of $38.57.

International Paper Trading Up 6.2 %

The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $36.75 and a 200 day moving average price of $35.84. The stock has a market capitalization of $13.62 billion, a PE ratio of 75.33 and a beta of 1.01.

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

Insider Transactions at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 9,400 shares of company stock worth $331,402 in the last 90 days. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings 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 during the last quarter. Czech National Bank raised its position in shares of International Paper by 0.5% in the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 295 shares during the period. Kentucky Retirement Systems lifted its stake 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 buying an additional 298 shares in the last quarter. Allworth Financial LP boosted its holdings in 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 stake in International Paper by 0.4% in the 3rd quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock valued at $3,116,000 after buying an additional 312 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Company Profile

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.