KapStone Paper and Packaging Corp. (KS) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $16 . Barclays advised their investors in a research report released on May 2, 2016.
Many Wall Street Analysts have commented on KapStone Paper and Packaging Corp.. KapStone Paper and Packaging Corp. was Downgraded by Dundee to ” Neutral” on Apr 20, 2016. KapStone Paper and Packaging Corp. was Initiated by BofA/Merrill to “Underperform” on Apr 6, 2016. Standpoint Research Initiated KapStone Paper and Packaging Corp. on Mar 31, 2016 to “Buy”, Price Target of the shares are set at $18.
On the company’s financial health, KapStone Paper and Packaging Corp. reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.22. The company had revenue of $738.00 million for the quarter, compared to analysts expectations of $754.71 million. The company’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.
KapStone Paper and Packaging Corp. closed down -0.1 points or -0.68% at $14.7 with 16,25,673 shares getting traded on Wednesday. Post opening the session at $14.93, the shares hit an intraday low of $14.57 and an intraday high of $15.345 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 26, 2016, Robert J Bahash (director) purchased 20,000 shares at $9.22 per share price. According to the SEC, on Feb 16, 2016, Timothy P Keneally (VP and General Manager) purchased 36,045 shares at $9.44 per share price. On Nov 5, 2015, John Chapman (director) sold 150,000 shares at $21.93 per share price, according to the Form-4 filing with the securities and exchange commission.
KapStone Paper and Packaging Corporation is engaged in manufacture and sale of containerboard corrugated products and specialty paper for industrial and consumer markets. Containerboard consisting of linerboard and corrugated medium is used to manufacture corrugated containers for packaging products. The Company produces three general categories of kraft paper: Multiwall paper; Specialty products and Lightweight paper. Specialty products are also used to produce shingle wrap end caps roll wrap pet food cement and chemicals grocery bags and dunnage bags. The Company’s specialty paper products are manufactured for a variety of converters including laminators coaters insulation manufacturers agricultural product processors and food product packaging producers. As of December 31 2014 the Company operated 21 corrugated products manufacturing plants. The Company also has multi-color printing capabilities to make graphics boxes and display.