Insider Selling: International Paper Company SVP Sells 2,000 Shares of Stock (IP)
International Paper Company (NYSE:IP) SVP Sharon R. Ryan sold 2,000 shares of International Paper Company stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $47.74, for a total value of $95,480.00. Following the completion of the sale, the senior vice president now directly owns 137,576 shares in the company, valued at approximately $6,567,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
International Paper Company (NYSE:IP) traded up 0.63% on Wednesday, hitting $48.11. 1,389,771 shares of the company’s stock traded hands. International Paper Company has a 52-week low of $42.3274 and a 52-week high of $51.98. The stock has a 50-day moving average of $48.42 and a 200-day moving average of $47.08. The company has a market cap of $20.544 billion and a price-to-earnings ratio of 24.01.
International Paper Company (NYSE:IP) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.14. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that International Paper Company will post $3.56 EPS for the current fiscal year.
A number of research firms have recently commented on IP. Analysts at Macquarie reiterated a “neutral” rating on shares of International Paper Company in a research note on Wednesday, July 30th. They now have a $52.00 price target on the stock, down previously from $54.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of International Paper Company in a research note on Wednesday, July 30th. They now have a $51.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of International Paper Company from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.40.
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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