KapStone Paper and Packaging Corporation (KS) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of KapStone Paper and Packaging Corporation (NYSE:KS) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

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 research analysts also recently issued research reports about the stock. Vertical Research upgraded shares of KapStone Paper and Packaging Corporation from a hold rating to a buy rating in a research report on Monday, July 3rd. Royal Bank Of Canada restated a buy rating and issued a $27.00 price target on shares of KapStone Paper and Packaging Corporation in a research report on Monday, August 21st. Citigroup Inc initiated coverage on shares of KapStone Paper and Packaging Corporation in a research report on Wednesday, August 16th. They issued a buy rating and a $25.00 price target on the stock. BidaskClub upgraded shares of KapStone Paper and Packaging Corporation from a hold rating to a buy rating in a research report on Monday, July 24th. Finally, BMO Capital Markets restated a buy rating and issued a $28.00 price target on shares of KapStone Paper and Packaging Corporation in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $26.38.

Shares of KapStone Paper and Packaging Corporation (NYSE KS) opened at $22.88 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 1.64. The firm has a market cap of $2.22 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.55 and a beta of 2.80.

KapStone Paper and Packaging Corporation (NYSE:KS) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.39 EPS for the quarter, missing the consensus estimate 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 business had revenue of $868.42 million for the quarter, compared to analyst estimates of $839.36 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. research analysts predict that KapStone Paper and Packaging Corporation will post 1.11 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. KapStone Paper and Packaging Corporation’s payout ratio is 53.33%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of KapStone Paper and Packaging Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,145 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 771 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of KapStone Paper and Packaging Corporation by 4.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,947 shares of the basic materials company’s stock worth $123,000 after buying an additional 239 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of KapStone Paper and Packaging Corporation by 77.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,864 shares of the basic materials company’s stock worth $183,000 after buying an additional 3,864 shares during the last quarter. Flinton Capital Management LLC boosted its holdings in shares of KapStone Paper and Packaging Corporation by 75.3% in the 2nd quarter. Flinton Capital Management LLC now owns 8,942 shares of the basic materials company’s stock worth $184,000 after buying an additional 3,842 shares during the last quarter. Finally, SFE Investment Counsel purchased a new position in shares of KapStone Paper and Packaging Corporation in the 3rd quarter worth about $215,000. Hedge funds and other institutional investors own 83.80% of the company’s stock.

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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