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ACA

Arcosa

$28.43

1.1 (4.02%)

, KS

KapStone

$34.98

-0.01 (-0.03%)

04:55
11/05/18
11/05
04:55
11/05/18
04:55

Arcosa to replace KapStone in S&P 600 at open on 11/5

Trinity Industries (TRN) is spinning off Arcosa (ACA) to shareholders in a deal expected to be completed on November 1. Post spin-off, Trinity Industries will remain in the S&P MidCap 400. WestRock (WRK) is acquiring Kapstone Paper and Packaging (KS) in a deal expected to close on or about November 2 pending final conditions.

ACA

Arcosa

$28.43

1.1 (4.02%)

KS

KapStone

$34.98

-0.01 (-0.03%)

TRN

Trinity Industries

$22.25

-0.49 (-2.15%)

WRK

WestRock

$44.54

-0.18 (-0.40%)

  • 05

    Nov

  • 06

    Nov

ACA Arcosa
$28.43

1.1 (4.02%)

KS KapStone
$34.98

-0.01 (-0.03%)

09/21/18
WELS
09/21/18
INITIATION
Target $63
WELS
Market Perform
WestRock initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Gabe Hajde resumed coverage of WestRock (WRK) with a Market Perform rating and $63 price target, stating that uncertainty on the pending KapStone (KS) acquisition, an upcoming heavy capital spending cycle and broader investor concern about industry capacity leave the stock's risk/reward balanced at this point. Over the longer-term, Hajde believes WestRock maintains an inherent and sustainable competitive advantage and he is bullish on its ability to capture industry-proportionate growth in the North American corrugated market.
05/29/18
SPHN
05/29/18
NO CHANGE
SPHN
Nine Dragons deal increases uncertainty in containerboard market, says Stephens
Stephens analyst Mark Connelly noted that private Canadian printing paper and pulp producer Catalyst Paper agreed to sell its Maine and Wisconsin softwood paper mills to China's Nine Dragons, which he sees increasing uncertainty in the containerboard market and likely to further reduce investor interest in the space. Among companies in the space, Connelly currently recommends only Packaging Corp. (PKG). Others in the space include International Paper (IP), KapStone (KS), Domtar (UFS) and WestRock (WRK).
02/09/18
DADA
02/09/18
DOWNGRADE
Target $35
DADA
Neutral
KapStone downgraded to Neutral at DA Davidson on WestRock acquistion
As reported earlier, DA Davidson analyst Steven Chercover downgraded KapStone (KS) to Neutral from Buy and raised his price target to $35 from $28 after the recent offer by WestRock (WRK) to acquire the company at his target price point. The analyst believes it values the company fairly and does not expect a higher offer.
02/08/18
DADA
02/08/18
DOWNGRADE
DADA
Neutral
KapStone downgraded to Neutral from Buy at DA Davidson
TRN Trinity Industries
$22.25

-0.49 (-2.15%)

10/30/18
SPIN
10/30/18
UPGRADE
SPIN
Buy
Trinity Industries upgraded to Buy from Hold at Spin-Off Research
11/01/18
WELS
11/01/18
NO CHANGE
Target $35
WELS
Outperform
Trinity Industries price target lowered to $35 from $53 at Wells Fargo
Wells Fargo analyst Allison Poliniak-Cusic lowered her price target for Trinity Industries to $35 from $53 reflecting her blended 2019/2020 sum of the parts valuation. The analyst reiterates an Outperform rating on stand-alone Trinity Industries.
10/08/18
SPIN
10/08/18
DOWNGRADE
SPIN
Hold
Trinity Industries downgraded to Hold from Buy at Spin-Off Research
10/05/18
MZHO
10/05/18
NO CHANGE
Target $48
MZHO
Buy
Trinity Industries solidified case for Arcosa spin-off, says Mizuho
Mizuho analyst Kristine Kubacki believes Trinity Industries management solidified the case for the spin-off of Arcosa at the company's analyst day. The analyst liked what she heard about the strategy for the rail manufacturing and leasing businesses and keeps a Buy rating on the shares with a $48 price target. She sees a "revaluation of a pure-play rail equipment leasing business" and higher manufacturing earnings as potential positive catalysts for 2019.
WRK WestRock
$44.54

-0.18 (-0.40%)

10/10/18
GSCO
10/10/18
DOWNGRADE
Target $53
GSCO
Neutral
International Paper downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Brian Maguire downgraded International Paper (IP) to Neutral and lowered his price target for the shares to $53 from $63. The stock closed yesterday down $2.69 to $44.64. Following 12 new U.S. containerboard capacity announcements since his upgrade of the shares on July 12, 2017, the analyst now forecasts 11% growth in North American capacity from 2019-2022 against an estimate of 2% per year demand growth. U.S. containerboard supply growth will outpace demand growth during the 2020-2022 period, which increases the risk of pricing/earnings declines in that time period, Maguire tells investors in a research note. The analyst admits that he underestimated the speed and severity of the supply response in the industry to the acceleration in demand. Maguire also lowered his price target for Buy-rated WestRock (WRK) to $64 from $73 and removed the shares from his firm's Americas Conviction List. He also dropped his price target for Neutral-rated Packaging Corp. (PKG) to $108 from $119.
10/23/18
BOFA
10/23/18
INITIATION
Target $52
BOFA
Buy
WestRock initiated with a Buy at BofA/Merrill
Seaport Global analyst Mark Weintraub initiated WestRock with a Buy and $52 price target telling investors shares are "too cheap." Weintraub said WestRock is gaining ground on competitors in Corrugated, and expects it to turn the corner in Consumer Packaging in 2019.
10/10/18
10/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Vipshop (VIPS) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao saying as the "tough competitive environment and harder-than-expected synergy generation," Vipshop is likely to adjust its strategy to re-focus on core off-season apparel distribution and prioritize profitability over sales growth. 2. International Paper (IP) downgraded to Neutral from Buy at Goldman Sachs while WestRock (WRK) was downgraded to Buy from Conviction Buy. 3. Clorox (CLX), Church & Dwight (CHD), and Kimberly-Clark (KMB) were downgraded to Sell from Hold at Deutsche Bank. 4. Sherwin-Williams (SHW) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying "tough" market comments from companies like H.B. Fuller (FUL), PPG (PPG) and RPM (RPL) suggest that coatings companies are likely to be challenged by rising raw materials costs and slowing growth in key end markets, including China. 5. KKR (KKR) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/18
GSCO
10/10/18
DOWNGRADE
Target $64
GSCO
Buy
WestRock downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Brian Maguire removed WestRock from his firm's Americas Conviction List while keeping a Buy rating on the shares. The analyst also lowered his price target for the stock to $64 from $73. Following 12 new U.S. containerboard capacity announcements since July 2017, the analyst now forecasts 11% growth in North American capacity from 2019-2022 against an estimate of 2% per year demand growth. U.S. containerboard supply growth will outpace demand growth during the 2020-2022 period, which increases the risk of pricing/earnings declines in that time period, Maguire tells investors in a research note. The analyst admits that he underestimated the speed and severity of the supply response in the industry to the acceleration in demand.

TODAY'S FREE FLY STORIES

08:50
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Conference/Events
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ECL

Ecolab

$163.45

1.82 (1.13%)

08:50
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CRUS

Cirrus Logic

$40.00

0.85 (2.17%)

08:48
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ECL

Ecolab

$163.45

1.82 (1.13%)

08:47
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ORTX

Orchard Therapeutics

$15.08

0.58 (4.00%)

08:47
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GSK

GlaxoSmithKline

$41.24

0.38 (0.93%)

08:46
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08:46
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Conference/Events
GlaxoSmithKline management to meet with Cowen »

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GMDA

Gamida Cell

$13.25

0.3 (2.32%)

, EDIT

Editas Medicine

$20.09

0.22 (1.11%)

08:45
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Hot Stocks
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Gamida Cell (GMDA)…

GMDA

Gamida Cell

$13.25

0.3 (2.32%)

EDIT

Editas Medicine

$20.09

0.22 (1.11%)

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  • 21

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EXPD

Expeditors

$73.56

-0.45 (-0.61%)

08:45
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02/19
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08:45
Earnings
Expeditors reports Q4 EPS $1.02, consensus 85c »

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MPO

Midstates Petroleum

$9.25

-0.17 (-1.80%)

, AXDX

Accelerate Diagnostics

$19.82

0.65 (3.39%)

08:45
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Options
Largest borrow rate increases among liquid names »

Latest data shows the…

MPO

Midstates Petroleum

$9.25

-0.17 (-1.80%)

AXDX

Accelerate Diagnostics

$19.82

0.65 (3.39%)

WATT

Energous

$8.91

0.11 (1.25%)

CRON

Cronos Group

$21.28

0.46 (2.21%)

NIO

NIO Inc.

$7.41

-0.07 (-0.94%)

EPD

Enterprise Products

$28.21

0.01 (0.04%)

NBEV

New Age Beverages

$6.50

-0.08 (-1.22%)

ITB

iShares U.S. Home Construction ETF

$35.22

0.36 (1.03%)

CWH

Camping World

$15.11

-0.105 (-0.69%)

SAND

Sandstorm Gold

$5.49

0.06 (1.11%)

03/08/13
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WBC

Wabco

$116.78

0.19 (0.16%)

08:44
02/19/19
02/19
08:44
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08:44
Recommendations
Wabco analyst commentary  »

Baird would be aggressive…

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ADVM

Adverum Biotechnologies

$3.80

0.28 (7.95%)

08:43
02/19/19
02/19
08:43
02/19/19
08:43
Conference/Events
Adverum Biotechnologies management to meet with Piper Jaffray »

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DPZ

Domino's Pizza

$281.63

-5.46 (-1.90%)

08:43
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Domino's Pizza analyst commentary  »

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08:42
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Conference/Events
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GVA

Granite Construction

$45.48

0.59 (1.31%)

08:42
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  • 20

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WWW

Wolverine World Wide

$39.54

0.94 (2.44%)

08:42
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  • 20

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MCEP

Mid-Con Energy

$0.98

0.06 (6.52%)

08:41
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Mid-Con Energy sell Texas properties for $60M, buys Oklahoma assets for $27.5M »

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KTOS

Kratos Defense

$16.95

(0.00%)

08:41
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Kratos Defense analyst commentary  »

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  • 28

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PEP

PepsiCo

$115.89

3.4 (3.02%)

, KO

Coca-Cola

$45.25

-0.345 (-0.76%)

08:41
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08:41
Upgrade
PepsiCo, Coca-Cola rating change  »

Macquarie upgrades…

PEP

PepsiCo

$115.89

3.4 (3.02%)

KO

Coca-Cola

$45.25

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HMST

HomeStreet

08:39
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HomeStreet analyst commentary  »

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HSIC

Henry Schein

$62.38

0.03 (0.05%)

08:39
02/19/19
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08:39
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Henry Schein analyst commentary  »

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  • 20

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GPC

Genuine Parts

$107.49

1.7447 (1.65%)

08:39
02/19/19
02/19
08:39
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08:39
Hot Stocks
Breaking Hot Stocks news story on Genuine Parts »

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AEO

American Eagle

$20.07

-0.03 (-0.15%)

08:39
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08:39
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Hot Stocks
American Eagle announces license agreement to expand brands to Europe »

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GPC

Genuine Parts

$107.49

1.7447 (1.65%)

08:37
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Hot Stocks
Genuine Parts reports Q4 sales for Automotive Group up 11.4% »

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CHFS

CHF Solutions

$10.05

0.75 (8.06%)

08:37
02/19/19
02/19
08:37
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Hot Stocks
CHF Solutions enters South American market with Bragenix distribution agreement »

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  • 20

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MRVL

Marvell

$18.82

-0.37 (-1.93%)

08:37
02/19/19
02/19
08:37
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08:37
Upgrade
Marvell rating change  »

Marvell upgraded to…

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