Packaging Corp Of America (PKG) Stock Rating Reaffirmed by Jefferies Group LLC

Packaging Corp Of America (NYSE:PKG)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a report released on Saturday, April 29th. They currently have a $114.00 price target on the industrial products company’s stock, up from their prior price target of $107.00. Jefferies Group LLC’s price target points to a potential upside of 14.90% from the stock’s previous close.

A number of other analysts also recently weighed in on PKG. Zacks Investment Research downgraded Packaging Corp Of America from a “buy” rating to a “hold” rating in a report on Thursday, January 12th. BMO Capital Markets upgraded Packaging Corp Of America from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Wednesday, January 25th. DA Davidson downgraded Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a report on Tuesday, January 31st. They noted that the move was a valuation call. Barclays PLC downgraded Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $92.00 to $90.00 in a report on Monday, February 6th. Finally, Bank of America Corp reiterated a “buy” rating and set a $106.00 price target (up from $103.00) on shares of Packaging Corp Of America in a report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $95.17.

Analyst Recommendations for Packaging Corp Of America (NYSE:PKG)

Shares of Packaging Corp Of America (NYSE:PKG) traded up 0.529% during mid-day trading on Friday, reaching $99.745. The company’s stock had a trading volume of 282,323 shares. Packaging Corp Of America has a 12 month low of $62.41 and a 12 month high of $103.17. The company’s 50-day moving average is $96.04 and its 200 day moving average is $90.68. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 20.352 and a beta of 1.84.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.03. Packaging Corp Of America had a return on equity of 27.81% and a net margin of 7.76%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $1.11 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Packaging Corp Of America will post $5.93 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.54%. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 53.05%.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Green Square Capital LLC increased its position in Packaging Corp Of America by 30.1% in the first quarter. Green Square Capital LLC now owns 6,595 shares of the industrial products company’s stock worth $608,000 after buying an additional 1,524 shares during the period. Point72 Asset Management L.P. bought a new position in Packaging Corp Of America during the first quarter worth about $35,656,000. Janus Capital Management LLC increased its position in Packaging Corp Of America by 26.5% in the first quarter. Janus Capital Management LLC now owns 704,040 shares of the industrial products company’s stock worth $64,504,000 after buying an additional 147,300 shares during the period. Driehaus Capital Management LLC increased its position in Packaging Corp Of America by 21.8% in the first quarter. Driehaus Capital Management LLC now owns 4,114 shares of the industrial products company’s stock worth $377,000 after buying an additional 736 shares during the period. Finally, Barings LLC increased its position in Packaging Corp Of America by 2.6% in the first quarter. Barings LLC now owns 36,820 shares of the industrial products company’s stock worth $3,373,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 85.38% of the company’s stock.

Packaging Corp Of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

5 Day Chart for NYSE:PKG

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