The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. International Paper Co. shares valued at $28,848 were sold by SULLIVAN KATHRYN D on Oct 15 ’24. At $48.08 per share, SULLIVAN KATHRYN D sold 600 shares. The insider’s holdings dropped to 38,945 shares worth approximately $1.87 million following the completion of this transaction.
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Also, SULLIVAN KATHRYN D sold 600 shares, netting a total of over 29,208 in proceeds. Following the sale of shares at $48.68 each, the insider now holds 39,545 shares.
Before that, SULLIVAN KATHRYN D had sold 600 shares from its account. In a trade valued at $29,688, the Director traded International Paper Co. shares for $49.48 each. Upon closing the transaction, the insider’s holdings decreased to 600 shares, worth approximately $1.91 million.
As published in a research note from Argus on August 14, 2024, International Paper Co. [IP] has been rated up from a Hold to a Buy and the price target has been revised to $52. Analysts at Stifel started covering the stock with ‘”a Hold”‘ outlook in a report released in early July. As of June 28, 2024, Seaport Research Partners has increased its “Neutral” rating to a “Buy” for IP. Earlier on May 23, 2024, Jefferies upgraded its rating. Their new recommendation was “a Buy” for IP stock which previously was a “a Hold”.
Analyzing IP Stock Performance
During the last five days, there has been a surge of approximately 1.87%. Over the course of the year, International Paper Co. shares have jumped approximately 32.72%. Shares of the company reached a 52-week high of $50.68 on 09/19/24 and a 52-week low of $32.70 on 02/06/24. A 50-day SMA is recorded $47.78, while a 200-day SMA reached $41.64. Nevertheless, trading volume fell to 4.88 million shares from 6.32 million shares the previous day.
Support And Resistance Levels for International Paper Co. (IP)
According to the 24-hour chart, there is a support level at 47.67, which, if violated, would cause prices to drop to 47.37. In the upper region, resistance lies at 48.22. The next price resistance is at 48.47. RSI (Relative Strength Index) is 49.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 50.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
