International Paper Company (NYSE:IP) has tumbled 2.83% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.78% in the last four weeks. The stocks have underperformed the S&P 500 by 1.66% during the past week but International Paper Company (NYSE:IP) it has outperformed the index in 4 weeks by 2.84%.
International Paper Company (NYSE:IP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.72 and $41.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.96, notching a gain of 0.55% for the day. The total traded volume was 2,809,456 . The stock had closed at $41.73 on the previous day.
The company shares have dropped -15.52% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $50.44 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $42.20 and the 200 Day Moving Average price is recorded at $39.16.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Landau Glenn R, officer (SVP & Pres., IP Latin America) of International Paper Co /New/, had unloaded 10,000 shares at an average price of $43.28 in a transaction dated on June 10, 2016. The total value of the transaction was worth $432,800.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Jefferies, downgrades their rating on the shares of International Paper Company (NYSE:IP). Jefferies has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $47 per share from a prior target of $51. The rating by the firm was issued on May 3, 2016. Currently the company Insiders own 0.64% of International Paper Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.94% . Institutional Investors own 85.52% of International Paper Company shares. During last six month period, the net percent change held by insiders has seen a change of -9.65%.
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging. Industrial Packaging segments products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. Printing Papers segment products include uncoated papers, which engage in the business of producing papers for use in copiers, desktop and laser printers and pulp, which manufactures printing, writing and specialty papers, tissue products and filtration products. Consumer Packagings coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups, lids, food containers and plates. Its brands include Hammermill, Springhill, Accent, Ballet, Rey, Pol, Everest, Fortress and Carolina.