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

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on International Paper from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Truist Financial cut their target price on International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. UBS Group cut their target price on International Paper from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. BNP Paribas Exane cut their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Finally, Royal Bank Of Canada cut their target price on International Paper from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.48.

International Paper Price Performance

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

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. As a group, equities research analysts forecast that International Paper Company will post 1.67 earnings per share for the current year.

Insiders Place Their Bets

In other International Paper news, Director Anders Gustafsson purchased 13,217 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $37.83 per share, with a total value of $499,999.11. Following the acquisition, the director directly owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew K. Silvernail bought 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 76,092 shares of company stock valued at $2,999,064 over the last ninety days. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in shares of International Paper during the first quarter worth $960,000. Kestra Private Wealth Services LLC grew its stake in shares of International Paper by 8.2% during the first quarter. Kestra Private Wealth Services LLC now owns 16,918 shares of the basic materials company’s stock worth $604,000 after purchasing an additional 1,287 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of International Paper by 36.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 12,973 shares of the basic materials company’s stock worth $463,000 after purchasing an additional 3,439 shares during the period. OP Asset Management Ltd acquired a new stake in shares of International Paper during the first quarter worth $1,857,000. Finally, Centennial Wealth Advisory LLC grew its stake in shares of International Paper by 23.7% during the first quarter. Centennial Wealth Advisory LLC now owns 15,651 shares of the basic materials company’s stock worth $559,000 after purchasing an additional 3,003 shares during the period. Institutional investors 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.