Rock-Tenn Lowered to Neutral at Zacks (RKT)
Rock-Tenn (NYSE:RKT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, Analyst Ratings Network reports. They currently have a $126.40 target price on the stock. Zacks‘ price objective suggests a potential upside of 24.81% from the company’s current price.
Shares of Rock-Tenn (NYSE:RKT) traded up 2.78% on Tuesday, hitting $104.09. The stock had a trading volume of 859,100 shares. Rock-Tenn has a 1-year low of $61.26 and a 1-year high of $126.05. The stock’s 50-day moving average is $113.1 and its 200-day moving average is $103.5. The company has a market cap of $7.399 billion and a P/E ratio of 11.66.
Rock-Tenn (NYSE:RKT) last released its earnings data on Tuesday, July 23rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that Rock-Tenn will post $7.12 EPS for the current fiscal year.
A number of other firms have also recently commented on RKT. Analysts at Merrill Lynch downgraded shares of Rock-Tenn (NYSE:RKT) from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Bank of America Corp. downgraded shares of Rock-Tenn (NYSE:RKT) from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Rock-Tenn (NYSE:RKT) in a research note to investors on Wednesday, September 11th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Rock-Tenn presently has an average rating of “Hold” and a consensus target price of $117.44.
Rock-Tenn Company (NYSE:RKT) is a North America’s integrated manufacturer of corrugated and consumer packaging.
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