Dundee Downgrades KapStone Paper and Packaging Corp. to Neutral

Brokerage firm Dundee Downgrades its rating on KapStone Paper and Packaging Corp.(NYSE:KS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Dundee was issued on Sep 19, 2016.

In a different note, On Sep 16, 2016, Standpoint Research said it Downgrades its rating on KapStone Paper and Packaging Corp.. The shares have been rated ‘Hold’ by the firm. On Aug 29, 2016, Bank of America said it Upgrades its rating on KapStone Paper and Packaging Corp.. The shares have been rated ‘Neutral’ by the firm. On Aug 10, 2016, Deutsche Bank said it Maintains its rating on KapStone Paper and Packaging Corp.. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 19, 2016, Dundee said it Upgrades its rating on KapStone Paper and Packaging Corp.. The shares have been rated ‘Buy’ by the firm.

KapStone Paper and Packaging Corp. (KS) made into the market gainers list on Thursdays trading session with the shares advancing 0.05% or 0.01 points. Due to strong positive momentum, the stock ended at $19.21, which is also near the day’s high of $19.35. The stock began the session at $19.31 and the volume stood at 17,45,124 shares. The 52-week high of the shares is $24.91 and the 52 week low is $8.95. The company has a current market capitalization of $1,855 M and it has 9,65,71,405 shares in outstanding.

KapStone Paper and Packaging Corp. has also declared a cash dividend of $0.1000 on Aug 17, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 13, 2016.

KapStone Paper and Packaging Corp.(KS) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $784.91M. Analysts had an estimated revenue of $820.11M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.29.

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.

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