International Paper (NYSE:IP) Reaches New 12-Month Low – What’s Next?

International Paper Company (NYSE:IP)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $34.05 and last traded at $34.2660, with a volume of 1214839 shares traded. The stock had previously closed at $35.90.

Analysts Set New Price Targets

Several research firms have weighed in on IP. Truist Financial set a $48.00 target price on shares of International Paper in a report on Thursday, February 26th. Jefferies Financial Group raised their price objective on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. UBS Group downgraded International Paper from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $44.00 in a research report on Monday, February 2nd. Finally, Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $36.00 to $40.00 in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.25.

International Paper Stock Performance

The company’s fifty day moving average price is $42.96 and its two-hundred day moving average price is $42.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. The firm has a market capitalization of $18.20 billion, a PE ratio of -5.12 and a beta of 1.09.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The business’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. As a group, equities analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Anders Gustafsson purchased 13,217 shares of the stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director owned 26,092 shares in the company, valued at approximately $987,060.36. The trade was a 102.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew K. Silvernail purchased 50,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $1,999,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 76,092 shares of company stock valued at $2,999,064. Insiders own 0.35% of the company’s stock.

Institutional Trading of International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of International Paper in the first quarter worth $249,000. Intech Investment Management LLC lifted its holdings in shares of International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after acquiring an additional 16,055 shares in the last quarter. Creative Planning boosted its position in International Paper by 10.1% during the 2nd quarter. Creative Planning now owns 85,115 shares of the basic materials company’s stock worth $3,986,000 after purchasing an additional 7,783 shares during the period. Cetera Investment Advisers boosted its position in International Paper by 1.2% during the 2nd quarter. Cetera Investment Advisers now owns 97,860 shares of the basic materials company’s stock worth $4,583,000 after purchasing an additional 1,158 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in International Paper by 1.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 233,883 shares of the basic materials company’s stock valued at $10,953,000 after purchasing an additional 2,374 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.