KapStone Paper and Packaging Corp. (KS) Sees Large Volume Increase
Shares of KapStone Paper and Packaging Corp. (NYSE:KS) saw unusually-high trading volume on Friday . Approximately 1,980,476 shares traded hands during mid-day 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 subject of several recent research reports. Zacks Investment Research downgraded KapStone Paper and Packaging Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Dundee Securities upgraded KapStone Paper and Packaging Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 19th. Deutsche Bank AG boosted their price target on KapStone Paper and Packaging Corp. from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, August 10th. Finally, Barclays PLC boosted their price target on KapStone Paper and Packaging Corp. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. KapStone Paper and Packaging Corp. presently has an average rating of “Hold” and an average target price of $17.02.
The company has a market capitalization of $1.67 billion and a PE ratio of 20.29. The firm’s 50 day moving average price is $14.87 and its 200-day moving average price is $13.82.
KapStone Paper and Packaging Corp. (NYSE:KS) last posted its earnings results on Wednesday, July 27th. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.02. The firm earned $784.91 million during the quarter, compared to the consensus estimate of $820.11 million. During the same quarter in the previous year, the company earned $0.44 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. Analysts anticipate that KapStone Paper and Packaging Corp. will post $1.18 earnings per share for the current year.
In related news, Director Jonathan R. Furer sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $15.09, for a total transaction of $377,250.00. Following the completion of the sale, the director now directly owns 1,189,400 shares of the company’s stock, valued at $17,948,046. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
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 Form 13F 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 as of its most recent SEC filing.
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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