KapStone Paper and Packaging Corp. (KS) is Upgraded by BofA/Merrill to Neutral

KapStone Paper and Packaging Corp. (KS) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 29, 2016.

Many Wall Street Analysts have commented on KapStone Paper and Packaging Corp.. KapStone Paper and Packaging Corp. was Upgraded by Dundee to ” Buy” on Jul 19, 2016.

On the company’s financial health, KapStone Paper and Packaging Corp. reported $0.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.30. The company had revenue of $784.91 million for the quarter, compared to analysts expectations of $827.60 million. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

KapStone Paper and Packaging Corp. opened for trading at $15.3 and hit $15.725 on the upside on Tuesday, eventually ending the session at $15.55, with a gain of 2.17% or 0.33 points. The heightened volatility saw the trading volume jump to 9,75,570 shares. Company has a market cap of $1,502 M.

In a different news, on Aug 8, 2016, Jonathan R Furer (director) sold 25,000 shares at $15.09 per share price. According to the SEC, on May 17, 2016, Maurice S Reznik (director) purchased 10,000 shares at $14.68 per share price. On Feb 26, 2016, Robert J Bahash (director) purchased 20,000 shares at $9.22 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.

KapStone Paper and Packaging Corp.

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