In a report issued on July 11, Philip Ng from Jefferies maintained a Hold rating on International Paper Co (IP – Research Report), with a price target of $44.00. The company’s shares closed last Thursday at $41.60, close to its 52-week low of $40.21.
According to TipRanks.com, Ng is a 5-star analyst with an average return of 7.0% and a 53.3% success rate. Ng covers the Basic Materials sector, focusing on stocks such as Berry Global Group, Graphic Packaging, and Eagle Materials.
The word on The Street in general, suggests a Hold analyst consensus rating for International Paper Co with a $49.88 average price target.
The company has a one-year high of $62.36 and a one-year low of $40.21. Currently, International Paper Co has an average volume of 3M.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
International Paper Co. engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft. The Global Cellulose Fibers segment offers cellulose fibers product portfolio includes fluff, market, and specialty pulps. The Printing Papers segment includes manufacturing of the printing and writing papers. The company was founded by Hugh J. Chisholm in 1898 and is headquartered in Memphis, TN.
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