Insider Selling: International Paper Company CEO Unloads 40,000 Shares of Stock (IP)
International Paper Company (NYSE:IP) CEO John V. Faraci unloaded 40,000 shares of International Paper Company stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $48.40, for a total value of $1,936,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,428,644 shares in the company, valued at approximately $69,146,370. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on IP shares. 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 company has a consensus rating of “Hold” and a consensus price target of $50.40.
International Paper Company (NYSE:IP) traded down 0.02% on Tuesday, hitting $48.44. The stock had a trading volume of 1,370,891 shares. International Paper Company has a 1-year low of $42.3274 and a 1-year high of $51.98. The stock has a 50-day moving average of $48.29 and a 200-day moving average of $47.11. The company has a market cap of $20.685 billion and a price-to-earnings ratio of 24.33.
International Paper Company (NYSE:IP) last released its earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.57 earnings per share. International Paper Company’s revenue was down 1.7% compared to the same quarter last year. Analysts expect that International Paper Company will post $3.56 EPS for the current fiscal year.
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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