International Paper Sees Unusually High Options Volume (NYSE:IP)

International Paper (NYSE:IP) saw unusually large options trading on Friday. Traders bought 11,048 put options on the company. This is an increase of approximately 112% compared to the average volume of 5,203 put options.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IP shares. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday. Finally, Argus downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.13.

International Paper Stock Performance

Shares of IP traded up $0.14 during mid-day trading on Friday, reaching $35.40. The company’s stock had a trading volume of 8,878,062 shares, compared to its average volume of 4,697,186. The business has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $35.83. The stock has a market cap of $12.30 billion, a P/E ratio of 42.61 and a beta of 0.99. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. As a group, equities research analysts anticipate that International Paper will post 1.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Paper

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IP. Desjardins Global Asset Management Inc. increased its holdings in International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 295 shares in the last quarter. Czech National Bank increased its holdings in International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 295 shares in the last quarter. Kentucky Retirement Systems increased its holdings in International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after purchasing an additional 298 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. increased its holdings in International Paper by 3.9% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 300 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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.