KapStone Paper and Packaging Corporation (KS) Downgraded to “Equal Weight” at Barclays PLC

KapStone Paper and Packaging Corporation (KS) Downgraded to “Equal Weight” at Barclays PLC

Barclays PLC cut shares of KapStone Paper and Packaging Corporation (NYSE:KS) from an overweight rating to an equal weight rating in a research note released on Monday morning. Barclays PLC currently has $24.00 price objective on the stock, up from their prior price objective of $22.00.

Several other research analysts have also recently commented on the company. RBC Capital Markets reissued an outperform rating on shares of KapStone Paper and Packaging Corporation in a report on Thursday, November 3rd. Zacks Investment Research lowered KapStone Paper and Packaging Corporation from a strong-buy rating to a hold rating in a report on Saturday, November 5th. Royal Bank Of Canada reissued an outperform rating on shares of KapStone Paper and Packaging Corporation in a report on Wednesday, November 2nd. Keefe, Bruyette & Woods reissued a market perform rating on shares of KapStone Paper and Packaging Corporation in a report on Wednesday, October 12th. Finally, Wells Fargo & Company lowered KapStone Paper and Packaging Corporation from an outperform rating to a market perform rating in a report on Monday, November 21st. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. KapStone Paper and Packaging Corporation presently has an average rating of Hold and a consensus price target of $21.13.

KapStone Paper and Packaging Corporation (NYSE:KS) traded up 1.68% during mid-day trading on Monday, hitting $24.22. The stock had a trading volume of 414,045 shares. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 29.54 and a beta of 2.82. The company has a 50-day moving average of $22.94 and a 200-day moving average of $19.48. KapStone Paper and Packaging Corporation has a 12-month low of $8.95 and a 12-month high of $24.86.

Several institutional investors have recently modified their holdings of KS. Vanguard Group Inc. increased its position in shares of KapStone Paper and Packaging Corporation by 4.7% in the second quarter. Vanguard Group Inc. now owns 7,052,585 shares of the company’s stock valued at $91,755,000 after buying an additional 319,320 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of KapStone Paper and Packaging Corporation by 7.6% in the third quarter. BlackRock Fund Advisors now owns 6,560,930 shares of the company’s stock valued at $124,133,000 after buying an additional 463,824 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of KapStone Paper and Packaging Corporation during the second quarter valued at about $21,892,000. Ameriprise Financial Inc. increased its position in shares of KapStone Paper and Packaging Corporation by 292.9% in the third quarter. Ameriprise Financial Inc. now owns 1,650,050 shares of the company’s stock valued at $31,222,000 after buying an additional 1,230,131 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its position in shares of KapStone Paper and Packaging Corporation by 5.0% in the third quarter. Paradigm Capital Management Inc. NY now owns 1,642,050 shares of the company’s stock valued at $31,068,000 after buying an additional 78,700 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

About KapStone Paper and Packaging Corporation

KapStone Paper and Packaging Corporation is engaged in the production of containerboard, corrugated products and specialty paper. The Company operates through two segments: Paper and Packaging, and Distribution. The Company operates approximately four paper mills. It produces approximately 2.7 million tons of containerboard and specialty paper at its mills in North Charleston, South Carolina; Roanoke Rapids, North Carolina; Cowpens, South Carolina, and Longview, Washington.

Related posts

Leave a Comment