International Paper (NYSE:IP) Sets New 52-Week Low – Time to Sell?

International Paper Company (NYSE:IP)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $33.55 and last traded at $33.4610, with a volume of 3120805 shares. The stock had previously closed at $35.44.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research note on Monday, February 9th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. UBS Group reduced their price objective on International Paper from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Truist Financial dropped their target price on International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on International Paper in a research report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.48.

International Paper Stock Performance

The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of -4.97 and a beta of 1.14. The stock has a fifty day moving average price of $39.47 and a 200 day moving average price of $40.69.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 14.12% and a negative return on equity of 0.35%. The business’s revenue was up 53.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS. As a group, analysts predict that International Paper Company will post 1.67 earnings per share for the current year.

Insider Transactions at International Paper

In other International Paper news, CEO Andrew K. Silvernail bought 50,000 shares of the 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 acquisition, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $1,999,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anders Gustafsson bought 13,217 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the acquisition, the director directly 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 SEC filing for this purchase provides additional information. In the last three months, insiders have bought 76,092 shares of company stock worth $2,999,064. 0.21% of the stock is currently owned by insiders.

Institutional Trading of International Paper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC grew its holdings in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after buying an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new stake in shares of International Paper in the 4th quarter worth approximately $25,000. Sound Income Strategies LLC lifted its position in shares of International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the period. DV Equities LLC bought a new stake in shares of International Paper in the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors bought a new stake in shares of International Paper in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

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.