KapStone Paper & Packaging Corp. (NYSE:KS) was downgraded by analysts at BMO Capital Markets to a “market perform” rating in a research report issued to clients and investors on Monday, Analyst Ratings Network.com reports. They currently have a $58.00 price target on the stock, up from their previous price target of $56.00. BMO Capital Markets’ price objective points to a potential upside of 10.06% from the stock’s previous close.
The analysts wrote, “We are lowering our Kapstone rating to Market Perform from Outperform owing to stock price appreciation. Over the past 12-months, the stock has risen 174% owing to two price increases in its major product line containerboard and, more recently, the inexpensive acquisition of the Longview containerboard assets. These assets have 200,000 tpy surplus virgin fiber linerboard capacity which although not included in our estimates, can be added relatively inexpensively. In addition, we are raising our 12-month price target to $58/share from $56/share.”
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of KapStone Paper & Packaging Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, November 6th. They now have a $53.00 price target on the stock. Separately, analysts at KeyCorp raised their price target on shares of KapStone Paper & Packaging Corp. from $52.00 to $59.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Finally, analysts at DA Davidson raised their price target on shares of KapStone Paper & Packaging Corp. from $52.00 to $64.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $56.40.
In other KapStone Paper & Packaging Corp. news, VP Randy Nebel purchased 1,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $50.98 per share, with a total value of $50,980.00. Following the completion of the purchase, the vice president now directly owns 4,111 shares in the company, valued at approximately $209,579. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of KapStone Paper & Packaging Corp. (NYSE:KS) opened at 52.70 on Monday. KapStone Paper & Packaging Corp. has a 52-week low of $19.39 and a 52-week high of $53.45. The stock has a 50-day moving average of $47.25 and a 200-day moving average of $41.07. The company has a market cap of $2.516 billion and a P/E ratio of 26.83.
KapStone Paper & Packaging Corp. (NYSE:KS) last announced its earnings results on Thursday, October 31st. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.13. The company had revenue of $539.00 million for the quarter, compared to the consensus estimate of $534.96 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 74.1% on a year-over-year basis. On average, analysts predict that KapStone Paper & Packaging Corp. will post $2.94 earnings per share for the current fiscal year.
KapStone Paper and Packaging Corporation (NYSE:KS) is an integrated manufacture and sale of unbleached kraft paper and corrugated products for industrial and consumer markets.
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