International Paper Company (IP) has risen sharply, recording gains of 9.06% in the past 4 weeks. However, the stock has corrected -0.77% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.16% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
International Paper Company (NYSE:IP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $44.94 and $44.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $45.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $45.12, notching a gain of 0.53% for the day. The total traded volume was 1,591,471 . The stock had closed at $44.88 on the previous day.
The stock has recorded a 20-day Moving Average of 4.86% and the 50-Day Moving Average is 6.37%. International Paper Company is up 5.18% in the last 3-month period. Year-to-Date the stock performance stands at 22.52%.
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging. Industrial Packaging segments products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. Printing Papers segment products include uncoated papers, which engage in the business of producing papers for use in copiers, desktop and laser printers and pulp, which manufactures printing, writing and specialty papers, tissue products and filtration products. Consumer Packagings coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups, lids, food containers and plates. Its brands include Hammermill, Springhill, Accent, Ballet, Rey, Pol, Everest, Fortress and Carolina.