International Paper (NYSE:IP) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of International Paper Company (NYSE:IP) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $34.38 and traded as high as $34.71. International Paper shares last traded at $34.5410, with a volume of 4,488,303 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on IP. UBS Group decreased their price objective on International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. lowered their price target on shares of International Paper from $62.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. Argus reissued a “buy” rating and issued a $45.00 price target on shares of International Paper in a report on Thursday, September 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $39.00 price target (down from $41.00) on shares of International Paper in a research report on Thursday, October 29th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Stock Up 0.9%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.77 and a current ratio of 1.01. The firm’s 50-day simple moving average is $34.38 and its two-hundred day simple moving average is $37.24. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of -5.27, a PEG ratio of 5.42 and a beta of 0.97.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. International Paper’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned ($0.43) earnings per share. On average, sell-side analysts expect that International Paper Company will post 1.13 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio is currently -28.20%.

Institutional Trading of International Paper

A number of large investors have recently made changes to their positions in IP. BlackRock Inc. bought a new stake in shares of International Paper during the 2nd quarter worth $1,940,896,000. State Street Corp raised its position in shares of International Paper by 7.1% in the second quarter. State Street Corp now owns 32,999,909 shares of the basic materials company’s stock worth $1,257,297,000 after acquiring an additional 2,189,597 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of International Paper during the 2nd quarter worth about $689,498,000. Atlas FRM LLC acquired a new stake in International Paper during the 2nd quarter worth approximately $374,904,000. Finally, Hill City Capital LP bought a new stake in shares of International Paper during the 2nd quarter worth $194,310,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Company Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.