KeyBanc analyst Adam Josephson maintained a Sell rating on International Paper Co (IP) today and set a price target of $50.00. The company’s shares closed last Thursday at $58.10, close to its 52-week high of $58.14.
According to TipRanks.com, Josephson is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -7.4% and a 46.2% success rate. Josephson covers the Basic Materials sector, focusing on stocks such as Berry Global Group, Graphic Packaging, and Clearwater Paper.
International Paper Co has an analyst consensus of Hold, with a price target consensus of $57.10, which is a -2.0% downside from current levels. In a report issued on April 27, UBS also maintained a Sell rating on the stock with a $44.00 price target.
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The company has a one-year high of $58.14 and a one-year low of $29.76. Currently, International Paper Co has an average volume of 3.08M.
Based on the recent corporate insider activity of 14 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.
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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.