As long as they continue to fund the dividend (which they have for 20+ years) and keep it at 26cents. There will be no issues. They have plenty of FCF, 500million/year, slowly paying down debt, but then taking on more to acquire other businesses. Growth by acquisitions isnt a good way to go about things, but its been working.
RRD is an industry standard, they OWN the space. Keep the 5% dividend going, keep spending to a minimum, and try to increase margins, and RRD will be paying shareholders for a long long time.
I do believe the run up was over done - I expect a pull back to the 18s... but with 10% of the float short (19 million shares), the run could easily continue.