KapStone Paper and Packaging Corp. (KS) is Downgraded by Wells Fargo to Market Perform

KapStone Paper and Packaging Corp. (KS) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on KapStone Paper and Packaging Corp.. KapStone Paper and Packaging Corp. was Downgraded by Wells Fargo to ” Market Perform” on Nov 21, 2016. Company shares were Reiterated by RBC Capital Mkts on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 23 from a previous price target of $17 .KapStone Paper and Packaging Corp. was Downgraded by Dundee to ” Neutral” on Sep 19, 2016.

On the company’s financial health, KapStone Paper and Packaging Corp. reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $0.39. The company had revenue of $776.64 million for the quarter, compared to analysts expectations of $805.93 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.51 EPS.

KapStone Paper and Packaging Corp. closed down -0.18 points or -0.84% at $21.15 with 9,59,297 shares getting traded on Monday. Post opening the session at $21.38, the shares hit an intraday low of $21.05 and an intraday high of $21.38 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Oct 27, 2016, KapStone Paper and Packaging Corp. announced a cash dividend of $0.1000. The company’s management has announced Dec 28, 2016 as the ex-dividend date and fixed the record date on Dec 30, 2016. The payable date has been fixed on Jan 12, 2017.

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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