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Downgrade Alert for KapStone Paper and Packaging (KS)

By Shiri Gupta

KapStone Paper and Packaging (NYSE:KS) was downgraded from Buy to Neutral at Dundee today. The stock closed yesterday at $18.51 on volume of 1.8 million shares, above average daily volume of 1.3 million.

KapStone Paper and Packaging Corporation manufactures unbleached kraft paper and dunnage bags.

There is potential upside of 43.8% for shares of KapStone Paper and Packaging based on a current price of $18.51 and an average consensus analyst price target of $26.62. The stock should discover initial support at its 200-day moving average (MA) of $18.27 and subsequent support at its 50-day MA of $13.14.

In the past 52 weeks, shares of KapStone Paper and Packaging have traded between a low of $8.95 and a high of $28.98 and closed yesterday at $18.51, which is 107% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.8% while the 200-day MA has slid 1%.

SmarTrend recommended that subscribers consider buying shares of KapStone Paper and Packaging on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.32. Since that recommendation, shares of KapStone Paper and Packaging have risen 20.3%. We continue to monitor KS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades kapstone paper and packaging

Ticker(s): KS