International Paper Target of Unusually High Options Trading (NYSE:IP)

International Paper (NYSE:IP) saw unusually large options trading activity on Thursday. Traders purchased 22,378 call options on the company. This represents an increase of 369% compared to the typical daily volume of 4,770 call options.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Truist Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Performance

Shares of IP opened at $35.38 on Friday. The firm’s 50 day moving average is $36.73 and its 200-day moving average is $35.83. The stock has a market capitalization of $12.29 billion, a P/E ratio of 43.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. Equities research analysts anticipate that International Paper will post 1.88 EPS for the current fiscal year.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Paper

Several hedge funds have recently made changes to their positions in the business. Desjardins Global Asset Management Inc. raised its holdings in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of International Paper by 37.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 295 shares during the period. Czech National Bank raised its holdings in shares of International Paper by 0.5% during the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after acquiring an additional 295 shares during the period. Kentucky Retirement Systems raised its holdings in shares of International Paper by 1.1% during the fourth quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the period. Finally, Pinnacle West Asset Management Inc. raised its holdings in shares of International Paper by 3.9% during the second quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.