Investors Buy Large Volume of International Paper Call Options (NYSE:IP)

International Paper (NYSE:IP) saw some unusual options trading on Tuesday. Stock traders bought 22,860 call options on the stock. This is an increase of 294% compared to the typical daily volume of 5,809 call options.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IP. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Finally, StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.57.

International Paper Stock Performance

Shares of IP stock traded up $1.96 during trading hours on Tuesday, reaching $38.88. 24,387,015 shares of the company’s stock were exchanged, compared to its average volume of 5,322,147. The business has a fifty day moving average price of $36.75 and a 200-day moving average price of $35.84. The stock has a market capitalization of $13.50 billion, a P/E ratio of 75.33 and a beta of 1.01. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.30.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the previous year, the business posted $0.53 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts predict that International Paper will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,400 shares of company stock valued at $331,402 over the last three months. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC boosted its holdings in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares during the last quarter. Manchester Capital Management LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at approximately $25,000. CVA Family Office LLC bought a new position in International Paper during the 4th quarter worth approximately $27,000. Finally, Venturi Wealth Management LLC grew its holdings in International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 753 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

About International Paper

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.