International Paper (NYSE:IP) Shares Gap Down to $35.26

Shares of International Paper (NYSE:IP - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $35.26, but opened at $34.51. International Paper shares last traded at $35.37, with a volume of 2,535,610 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Argus lowered International Paper from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Truist Financial reiterated a "buy" rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday. StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th. Citigroup upgraded International Paper from a "neutral" rating to a "buy" rating and raised their price target for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Bank of America upgraded International Paper from an "underperform" rating to a "buy" rating and raised their price target for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $37.13.

International Paper Stock Performance

The firm has a 50-day moving average of $36.73 and a two-hundred day moving average of $35.83. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $12.29 billion, a PE ratio of 43.14 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business's revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. Research analysts anticipate that International Paper will post 1.88 EPS for the current year.

Insider Buying and Selling

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC acquired a new position in shares of International Paper in the 3rd quarter valued at $25,000. Jones Financial Companies Lllp lifted its stake in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 475 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of International Paper in the 4th quarter valued at $27,000. MCF Advisors LLC lifted its stake in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of International Paper in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 81.95% of the company's stock.

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.