International Paper Company (IP) : The highest level International Paper Company (IP) is projected to reach is $57 for the short term and the lowest estimate is at $25. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $44.4 and the possibility the share price can swing is $8.06.
International Paper Company (IP) has shown a drop of 5.4% or 618,538 shares in the short positions. The bets have increased to 10,841,083 shares on June 30,2016 from 11,459,621 shares on June 15,2016. With respect to the floated shares, the shorts are 2.7%. The days to cover are calculated to be 3, using the standard per day volume of 3,141,303 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Jefferies downgrades their rating on the shares of International Paper Company (NYSE:IP). The current rating of the shares is Hold. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm lowers the price target to $47 per share from $51 per share. The rating by the firm was issued on May 3, 2016.
International Paper Company (NYSE:IP): On Thursdays trading session , Opening price of the stock was $44.5 with an intraday high of $44.68. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $43.98. However, the stock managed to close at $44.05, a loss of 0.43% for the day. On the previous day, the stock had closed at $44.24. The total traded volume of the day was 3,046,040 shares.
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.