KP Tissue (TSE:KPT) Sets New 52-Week High After Analyst Upgrade

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KP Tissue Inc (TSE:KPT)’s stock price hit a new 52-week high during mid-day trading on Friday after TD Securities raised their price target on the stock from C$9.00 to C$9.50. TD Securities currently has a hold rating on the stock. KP Tissue traded as high as C$9.77 and last traded at C$9.68, with a volume of 17533 shares trading hands. The stock had previously closed at C$9.27.

A number of other research analysts also recently issued reports on KPT. National Bank Financial upgraded KP Tissue from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$8.00 to C$10.00 in a research note on Thursday. Royal Bank of Canada upgraded KP Tissue from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$8.00 to C$10.00 in a research note on Friday, August 9th. Finally, CIBC boosted their price objective on KP Tissue from C$9.00 to C$10.00 in a research note on Friday, October 11th.

The stock has a 50 day moving average of C$9.04 and a 200-day moving average of C$8.56. The company has a market capitalization of $84.85 million and a P/E ratio of -36.62.

KP Tissue (TSE:KPT) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.02 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.03 by C($0.01). The company had revenue of C$365.67 million during the quarter, compared to the consensus estimate of C$362.00 million. Sell-side analysts expect that KP Tissue Inc will post 0.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a $0.18 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.72 dividend on an annualized basis and a yield of 7.31%. KP Tissue’s dividend payout ratio is presently -267.66%.

About KP Tissue (TSE:KPT)

KP Tissue Inc, through its interest in Kruger Products L.P., produces, distributes, markets, and sells a range of disposable tissue products in North America. The company operates through three segments: Consumer Products, Away-From-Home, and Other. It offers bathroom and facial tissues, paper towels, and paper towels and napkins, as well as disposable wiping products and washroom dispensing systems.

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