KapStone Paper and Packaging Corp. (KS) Sees Strong Trading Volume
KapStone Paper and Packaging Corp. (NYSE:KS) saw unusually-high trading volume on Friday . Approximately 1,980,476 shares were traded during trading, an increase of 92% from the previous session’s volume of 1,030,692 shares.The stock last traded at $17.22 and had previously closed at $16.24.
KS has been the topic of several research analyst reports. Dundee Securities upgraded shares of KapStone Paper and Packaging Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 19th. Deutsche Bank AG boosted their price objective on shares of KapStone Paper and Packaging Corp. from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Zacks Investment Research raised shares of KapStone Paper and Packaging Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Barclays PLC boosted their price objective on shares of KapStone Paper and Packaging Corp. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, May 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.02.
The stock has a 50-day moving average of $14.75 and a 200 day moving average of $13.80. The stock has a market cap of $1.67 billion and a PE ratio of 20.29.
KapStone Paper and Packaging Corp. (NYSE:KS) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.02. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company had revenue of $784.91 million for the quarter, compared to the consensus estimate of $820.11 million. KapStone Paper and Packaging Corp.’s revenue for the quarter was up 16.9% compared to the same quarter last year. Analysts forecast that KapStone Paper and Packaging Corp. will post $1.18 EPS for the current year.
In related news, Director Jonathan R. Furer sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $15.09, for a total value of $377,250.00. Following the transaction, the director now owns 1,189,400 shares of the company’s stock, valued at approximately $17,948,046. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A hedge fund recently raised its stake in KapStone Paper and Packaging Corp. stock. Principal Financial Group Inc. raised its position in shares of KapStone Paper and Packaging Corp. (NYSE:KS) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 575,376 shares of the company’s stock after buying an additional 25,050 shares during the period. Principal Financial Group Inc. owned 0.60% of KapStone Paper and Packaging Corp. worth $12,998,000 at the end of the most recent quarter.
KapStone Paper and Packaging Corporation is engaged in the production of containerboard, corrugated products and specialty paper. The Company operates through two segments: Paper and Packaging, and Distribution. The Company operates approximately four paper mills. It produces approximately 2.7 million tons of containerboard and specialty paper at its mills in North Charleston, South Carolina; Roanoke Rapids, North Carolina; Cowpens, South Carolina, and Longview, Washington.
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