Rock-Tenn Co. Sets New 1-Year High at $118.77 (RKT)
Shares of Rock-Tenn (NYSE:RKT) hit a new 52-week high during trading hours on Thursday, Analyst Ratings Network reports. The company traded as high as $118.77 and last traded at $118.09, with a volume of 392,433 shares trading hands. The stock had previously closed at $118.08.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Rock-Tenn (NYSE:RKT) in a research note to investors on Wednesday. They set an “outperform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Rock-Tenn (NYSE:RKT) from $120.00 to $145.00 in a research note to investors on Wednesday, July 31st. They now have an “overweight” rating on the stock. Finally, analysts at Longbow Research raised their price target on shares of Rock-Tenn (NYSE:RKT) from $105.00 to $123.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock.
One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. Rock-Tenn presently has an average rating of “Buy” and an average price target of $115.92.
In other Rock-Tenn news, CEO James Rubright sold 35,000 shares of Rock-Tenn stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $113.47, for a total transaction of $3,971,450.00. Following the completion of the transaction, the chief executive officer now directly owns 219,081 shares of the company’s stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Rock-Tenn has a 52-week low of $61.26 and a 52-week high of $118.31. The stock’s 50-day moving average is $114.1 and its 200-day moving average is $101.2. The company has a market cap of $8.381 billion and a P/E ratio of 13.59.
Rock-Tenn (NYSE:RKT) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.66 by $0.50. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Rock-Tenn will post $7.12 earnings per share for the current fiscal year.
Rock-Tenn Company (NYSE:RKT) is a North America’s integrated manufacturer of corrugated and consumer packaging.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.