International Paper Company (IP) : Investors lapped up stocks on upticks to the tune of $1.54 million in the Wednesdays trading session. The trading value on downticks was comparatively at $0.2 million and the uptick to downtick ratio of 7.76 indicates continuous buying by the bulls. The net money flow into the stock was $1.34 million. Upticks saw transactions worth $1.39 clearly indicating buying by large investors. The total money flow for block trades stood at $1.39 million, which is a positive for the stock in the long-term. International Paper Company (IP) fell $0.03 during the day at $44.94, a drop of -0.07% over the previous days close. However, for the week, the stock is -1.17%, compared to the previous week.
Also, Equity Analysts at the Jefferies downgrades the rating on International Paper Company (NYSE:IP). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The Analysts at the ratings agency lowers the price target from $51 per share to $47 per share. The rating by the firm was issued on May 3, 2016.
International Paper Company (NYSE:IP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.01 and $44.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $45.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $45.01, notching a gain of 0.09% for the day. The total traded volume was 2,414,810 . The stock had closed at $44.97 on the previous day.
The stock has recorded a 20-day Moving Average of 5.23% and the 50-Day Moving Average is 6.38%. In a related news, 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.
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.