KP Tissue (TSE:KPT) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• KP Tissue shares moved above their 200-day moving average, trading as high as C$13.20 versus the C$11.31 level, on volume of 16,152 shares.
• Analysts remain cautious on the stock, with TD and Desjardins both holding their ratings while nudging price targets higher to C$12.00 and C$12.50, respectively.
• The company declared a quarterly dividend of $0.21 per share, equal to an annualized yield of 6.4%, though insiders recently sold shares and the payout ratio stands at 80%.

KP Tissue Inc. (TSE:KPT - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.31 and traded as high as C$13.20. KP Tissue shares last traded at C$13.20, with a volume of 16,152 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD increased their price objective on shares of KP Tissue from C$11.00 to C$12.00 and gave the stock a "hold" rating in a research note on Friday, May 15th. Desjardins boosted their target price on shares of KP Tissue from C$12.00 to C$12.50 and gave the company a "hold" rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$11.62.

KP Tissue Stock Performance

The company has a market cap of C$132.37 million, a price-to-earnings ratio of 14.67, a PEG ratio of -0.88 and a beta of 0.53. The business has a fifty day moving average price of C$12.49 and a 200 day moving average price of C$11.31.

KP Tissue (TSE:KPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$0.22 earnings per share for the quarter. As a group, equities analysts anticipate that KP Tissue Inc. will post 0.4398964 EPS for the current year.

KP Tissue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.4%. KP Tissue's dividend payout ratio is 80.00%.

Insider Buying and Selling at KP Tissue

In other news, Director David A. Spraley sold 3,668 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of C$13.30, for a total value of C$48,784.40. Following the sale, the director directly owned 15,712 shares in the company, valued at approximately C$208,969.60. This trade represents a 18.93% decrease in their position. In the last 90 days, insiders have sold 6,668 shares of company stock valued at $87,644. Company insiders own 0.14% of the company's stock.

About KP Tissue

KPT was created to acquire, and its business is limited to holding, a limited equity interest in Kruger Products, which is accounted for as an investment on the equity basis. KPT currently holds a 12% interest in Kruger Products.

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