International Paper (NYSE:IP) Reaches New 52-Week High – Time to Buy?

International Paper (NYSE:IP)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $60.22 and last traded at $59.75, with a volume of 4362809 shares trading hands. The stock had previously closed at $57.84.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reissued a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Up 1.9 %

The firm’s fifty day simple moving average is $50.78 and its 200 day simple moving average is $46.96. The company has a market cap of $20.48 billion, a price-to-earnings ratio of 49.44 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Sell-side analysts predict that International Paper will post 1.29 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.14%. International Paper’s payout ratio is 158.12%.

Insiders Place Their Bets

In other news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,440 shares of company stock worth $944,540. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On International Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in International Paper during the third quarter worth $25,000. Innealta Capital LLC bought a new position in International Paper in the 2nd quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper during the 3rd quarter worth about $28,000. Finally, Crewe Advisors LLC bought a new position in International Paper in the 1st quarter worth approximately $29,000. Institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

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.