Barclays Downgrades KapStone Paper and Packaging Corp. to Equal-Weight

Brokerage firm Barclays Downgrades its rating on KapStone Paper and Packaging Corp.(KS). The shares have been rated Equal-Weight. Previously, the analysts had a Overweight rating on the shares. The rating by Barclays was issued on Feb 6, 2017.

KapStone Paper and Packaging Corp. (KS) made into the market gainers list on Tuesdays trading session with the shares advancing 1.55% or 0.37 points. Due to strong positive momentum, the stock ended at $24.19, which is also near the day’s high of $24.71. The stock began the session at $23.8 and the volume stood at 15,26,984 shares. The 52-week high of the shares is $24.86 and the 52 week low is $8.95. The company has a current market capitalization of $2,337 M and it has 9,66,27,341 shares in outstanding.

KapStone Paper and Packaging Corp.(KS) last announced its earnings results on Nov 1, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $776.64M. Analysts had an estimated revenue of $802.28M. Earnings per share were $0.37. The reported EPS was above estimates by $0.02 or NaN%. Analysts had estimated an EPS of $0.39.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, Jonathan R Furer (director) sold 25,000 shares at $15.09 per share price.Also, 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.

Share this post

Leave a Reply