KP Tissue (TSE:KPT) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• KP Tissue Inc. (TSE:KPT) stock has recently crossed above its 200-day moving average of C$8.37, reaching a high of C$8.98 during trading.
• Equity analysts have recently raised their target prices for KP Tissue, with Desjardins and National Bankshares both setting their new targets at C$9.50 and TD Securities setting theirs at C$9.00, all maintaining "hold" ratings.
• The company declared a quarterly dividend of $0.18 per share, resulting in an annualized yield of 8.05%, though the dividend payout ratio is currently high at 112.73%.

KP Tissue Inc. (TSE:KPT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.37 and traded as high as C$8.98. KP Tissue shares last traded at C$8.94, with a volume of 8,966 shares.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KPT shares. Desjardins lifted their target price on shares of KP Tissue from C$8.50 to C$9.50 and gave the company a "hold" rating in a research report on Thursday, May 22nd. TD Securities lifted their target price on shares of KP Tissue from C$8.00 to C$9.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Finally, National Bankshares lifted their target price on shares of KP Tissue from C$8.50 to C$9.50 and gave the company a "sector perform" rating in a research report on Thursday, May 22nd.

KP Tissue Price Performance

The firm has a market cap of C$89.35 million, a PE ratio of 14.00, a price-to-earnings-growth ratio of -0.88 and a beta of 0.37. The company has a 50 day simple moving average of C$9.03 and a 200-day simple moving average of C$8.37.

KP Tissue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 8.05%. The ex-dividend date of this dividend was Monday, June 30th. KP Tissue's dividend payout ratio is currently 112.73%.

About KP Tissue

KP Tissue Inc, through its interest in Kruger Products L.P., produces, distributes, markets, and sells a range of disposable tissue products in Canada and the United States. The company operates through two segments, Consumer and Away-From-Home. It offers bathroom and facial tissues, paper towels, and napkins.

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