Insider Selling: John Faraci Sells 10,000 Shares of International Paper Stock (IP)
International Paper (NYSE:IP) CEO John Faraci sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $48.58, for a total transaction of $485,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,752,533 shares of the company’s stock, valued at approximately $85,138,053. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
International Paper (NYSE:IP) traded down 0.65% on Thursday, hitting $48.71. The stock had a trading volume of 1,231,736 shares. International Paper has a 1-year low of $39.47 and a 1-year high of $50.33. The stock’s 50-day moving average is $47. and its 200-day moving average is $46.57. The company has a market cap of $21.609 billion and a P/E ratio of 18.34.
International Paper (NYSE:IP) last announced its earnings results on Thursday, October 24th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.08. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 16th. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of International Paper in a research note to investors on Friday, October 25th. They now have a $56.00 price target on the stock. Finally, analysts at Jefferies Group cut their price target on shares of International Paper from $57.00 to $56.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. International Paper presently has a consensus rating of “Buy” and an average price target of $45.73.
International Paper Company (NYSE:IP) is a global paper and packaging company, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa.
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