International Paper Company (IP) : Traders are bullish on International Paper Company (IP) as it has outperformed the S&P 500 by a wide margin of 3.77% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.6%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.53% in the last 1 week, and is up 7.26% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.87% and the 50-Day Moving Average is 7.06%. International Paper Company is up 7.01% in the last 3-month period. Year-to-Date the stock performance stands at 24.39%.
International Paper Company (NYSE:IP): stock turned positive on Friday. Though the stock opened at $45.57, the bulls momentum made the stock top out at $45.89 level for the day. The stock recorded a low of $45.28 and closed the trading day at $45.81, in the green by 0.17%. The total traded volume for the day was 2,319,707. The stock had closed at $45.73 in the previous days trading.
Also, Equity analysts at the Brokerage firm Jefferies maintains its rating on International Paper Company (NYSE:IP). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Jefferies raises the price target from $47 per share to $49 per share. The rating by the firm was issued on July 29, 2016.
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.