KapStone Paper and Packaging Corporation (NYSE:KS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of KapStone Paper and Packaging Corporation (NYSE:KS) from a strong-buy rating to a hold rating in a research note released on Saturday.

According to Zacks, “KAPSTONE PAPER & PACKAGING CORPORATION was formed to effect a business combination with a suitable operating business in the paper, packaging, forest products and related industries. Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is a leading North American producer of kraft paper and inflatable dunnage bags. The Company is the parent corporation of KapStone Kraft Paper Corporation which includes a paper mill in Roanoke Rapids, NC, and RideRite, an inflatable dunnage bag manufacturer in Fordyce, AR. “

KS has been the subject of several other research reports. Royal Bank of Canada reissued a buy rating and issued a $26.00 price target on shares of KapStone Paper and Packaging Corporation in a research note on Tuesday, April 18th. Deutsche Bank AG boosted their price target on KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the company a buy rating in a research note on Tuesday, April 25th. BMO Capital Markets reissued a buy rating and issued a $28.00 price target on shares of KapStone Paper and Packaging Corporation in a research note on Tuesday, July 18th. BidaskClub cut KapStone Paper and Packaging Corporation from a buy rating to a hold rating in a research note on Saturday, July 8th. Finally, Vertical Research raised KapStone Paper and Packaging Corporation from a hold rating to a buy rating in a research note on Monday, July 3rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $26.33.

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KapStone Paper and Packaging Corporation (KS) opened at 23.23 on Friday. The firm’s 50-day moving average is $21.71 and its 200-day moving average is $22.27. The firm has a market capitalization of $2.25 billion, a PE ratio of 30.57 and a beta of 2.83. KapStone Paper and Packaging Corporation has a 12 month low of $13.97 and a 12 month high of $24.98.

KapStone Paper and Packaging Corporation (NYSE:KS) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $822.70 million during the quarter, compared to analysts’ expectations of $831.52 million. KapStone Paper and Packaging Corporation had a return on equity of 11.26% and a net margin of 2.39%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities research analysts expect that KapStone Paper and Packaging Corporation will post $1.28 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Thursday, June 29th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. KapStone Paper and Packaging Corporation’s payout ratio is currently 51.95%.

In other KapStone Paper and Packaging Corporation news, Director Jonathan R. Furer sold 12,484 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $21.23, for a total transaction of $265,035.32. Following the completion of the sale, the director now owns 1,178,915 shares of the company’s stock, valued at $25,028,365.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Randy J. Nebel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the vice president now directly owns 47,404 shares of the company’s stock, valued at approximately $1,137,696. The disclosure for this sale can be found here. 13.30% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in KS. Flinton Capital Management LLC boosted its stake in shares of KapStone Paper and Packaging Corporation by 7.9% in the first quarter. Flinton Capital Management LLC now owns 5,100 shares of the basic materials company’s stock worth $118,000 after buying an additional 374 shares during the last quarter. Invictus RG bought a new stake in shares of KapStone Paper and Packaging Corporation during the first quarter worth about $153,000. Ameritas Investment Partners Inc. bought a new stake in shares of KapStone Paper and Packaging Corporation during the first quarter worth about $172,000. State of Alaska Department of Revenue boosted its stake in shares of KapStone Paper and Packaging Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 9,750 shares of the basic materials company’s stock worth $225,000 after buying an additional 240 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of KapStone Paper and Packaging Corporation by 389.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,943 shares of the basic materials company’s stock worth $230,000 after buying an additional 7,912 shares during the last quarter. 82.90% of the stock is owned by hedge funds and other institutional investors.

About KapStone Paper and Packaging Corporation

KapStone Paper and Packaging Corporation is a producer of containerboard and the kraft paper in North America. The Company operates through two segments: Paper and Packaging, and Distribution. The Paper and Packaging segment manufactures and sells a range of containerboard, corrugated products and specialty paper for industrial and consumer markets.

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