KapStone Paper and Packaging Corporation (KS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of KapStone Paper and Packaging Corporation (NYSE:KS) from a hold rating to a sell rating in a report issued on Tuesday, October 31st.

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. “

Other equities analysts also recently issued reports about the company. ValuEngine raised KapStone Paper and Packaging Corporation from a hold rating to a buy rating in a research note on Friday, September 1st. KeyCorp reissued a hold rating on shares of KapStone Paper and Packaging Corporation in a research report on Wednesday, October 25th. Stephens began coverage on KapStone Paper and Packaging Corporation in a research report on Tuesday, October 24th. They issued an overweight rating and a $28.00 price objective for the company. Citigroup Inc. assumed coverage on KapStone Paper and Packaging Corporation in a research report on Wednesday, August 16th. They issued a buy rating and a $25.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $27.00 target price on shares of KapStone Paper and Packaging Corporation in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. KapStone Paper and Packaging Corporation presently has a consensus rating of Hold and an average price target of $26.38.

Shares of KapStone Paper and Packaging Corporation (KS) traded up $0.03 during midday trading on Tuesday, reaching $20.98. The company’s stock had a trading volume of 480,665 shares, compared to its average volume of 1,108,707. KapStone Paper and Packaging Corporation has a 12 month low of $19.59 and a 12 month high of $24.98. The stock has a market cap of $2,034.15, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.42 and a beta of 2.80. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64.

KapStone Paper and Packaging Corporation (NYSE:KS) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). KapStone Paper and Packaging Corporation had a return on equity of 11.12% and a net margin of 2.29%. The firm had revenue of $868.42 million for the quarter, compared to analysts’ expectations of $839.36 million. During the same quarter in the prior year, the business earned $0.37 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. analysts anticipate that KapStone Paper and Packaging Corporation will post 1.11 EPS for the current year.

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In other news, Director John Chapman sold 70,765 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $20.80, for a total value of $1,471,912.00. Following the transaction, the director now directly owns 445,056 shares of the company’s stock, valued at $9,257,164.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.09% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of KapStone Paper and Packaging Corporation by 53,613.8% during the first quarter. BlackRock Inc. now owns 11,283,124 shares of the basic materials company’s stock worth $260,641,000 after buying an additional 11,262,118 shares in the last quarter. Victory Capital Management Inc. boosted its stake in KapStone Paper and Packaging Corporation by 25,123.5% in the third quarter. Victory Capital Management Inc. now owns 1,297,750 shares of the basic materials company’s stock valued at $27,888,000 after acquiring an additional 1,292,605 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in KapStone Paper and Packaging Corporation by 51.9% in the third quarter. Point72 Asset Management L.P. now owns 3,360,888 shares of the basic materials company’s stock valued at $72,225,000 after acquiring an additional 1,148,963 shares during the last quarter. Bank of America Corp DE boosted its position in shares of KapStone Paper and Packaging Corporation by 191.6% during the first quarter. Bank of America Corp DE now owns 1,316,332 shares of the basic materials company’s stock worth $30,407,000 after purchasing an additional 864,971 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of KapStone Paper and Packaging Corporation during the second quarter worth $14,866,000. 83.91% of the stock is owned by hedge funds and other institutional investors.

KapStone Paper and Packaging Corporation Company Profile

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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