Rock-Tenn Upgraded to “Buy” by Buckingham Research (RKT)
Rock-Tenn (NYSE:RKT) was upgraded by research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a report released on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on RKT. Analysts at Zacks upgraded shares of Rock-Tenn from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 7th. They now have a $104.50 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Rock-Tenn from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 30th. Finally, analysts at Deutsche Bank upgraded shares of Rock-Tenn from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $119.94.
Rock-Tenn (NYSE:RKT) opened at 102.40 on Monday. Rock-Tenn has a 1-year low of $79.12 and a 1-year high of $126.05. The stock’s 50-day moving average is $101.7 and its 200-day moving average is $105.5. The company has a market cap of $7.506 billion and a P/E ratio of 9.89.
Rock-Tenn (NYSE:RKT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $1.66 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.78 by $0.12. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company posted $1.35 earnings per share. Rock-Tenn’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that Rock-Tenn will post $8.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 24th. Investors of record on Tuesday, February 11th will be given a dividend of 0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, February 7th.
Rock-Tenn Company (NYSE:RKT) is a North America’s integrated manufacturer of corrugated and consumer packaging.
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