Rock-Tenn Company Given Consensus Recommendation of “Buy” by Analysts (NYSE:RKT)
Rock-Tenn Company (NYSE:RKT) has received an average recommendation of “Buy” from the fourteen analysts that are currently covering the company, StockRatingsNetwork reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $118.89.
Shares of Rock-Tenn Company (NYSE:RKT) traded up 0.62% on Thursday, hitting $95.51. The stock had a trading volume of 45,748 shares. Rock-Tenn Company has a 1-year low of $92.12 and a 1-year high of $126.05. The stock’s 50-day moving average is $98.96 and its 200-day moving average is $102.0. The company has a market cap of $6.752 billion and a price-to-earnings ratio of 13.83. Rock-Tenn Company’s stock is set to split on Thursday, August 28th. The 2-1 split was announced on Monday, July 28th. The newly issued shares will be issued to shareholders after the market closes on Wednesday, August 27th.
Rock-Tenn Company also saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,184,273 shares, an increase of 68.2% from the July 15th total of 704,242 shares. Based on an average trading volume of 1,052,419 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.7% of the company’s shares are short sold.
Rock-Tenn Company (NYSE:RKT) last announced its earnings results on Tuesday, July 29th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.17. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Rock-Tenn Company will post $7.10 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “underperform” rating on shares of Rock-Tenn Company in a research note on Thursday, August 7th. They now have a $89.00 price target on the stock. Separately, analysts at Macquarie downgraded shares of Rock-Tenn Company from an “outperform” rating to a “neutral” rating in a research note on Monday, July 21st. They now have a $106.00 price target on the stock, down previously from $125.00.
Rock-Tenn Company (NYSE:RKT) is a North America’s integrated manufacturer of corrugated and consumer packaging.
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