Packaging Corp Of America (PKG) Upgraded to “Buy” at DA Davidson

DA Davidson upgraded shares of Packaging Corp Of America (NYSE:PKG) from a neutral rating to a buy rating in a research note published on Monday.

Several other research analysts have also weighed in on the company. KeyCorp reiterated a hold rating on shares of Packaging Corp Of America in a research report on Friday, February 2nd. Bank of America increased their price objective on Packaging Corp Of America from $134.00 to $138.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Wells Fargo & Co increased their price objective on Packaging Corp Of America from $130.00 to $150.00 and gave the stock a market perform rating in a research report on Thursday, February 1st. BMO Capital Markets reiterated a buy rating and issued a $130.00 price objective on shares of Packaging Corp Of America in a research report on Thursday, January 25th. Finally, Stephens set a $136.00 price objective on Packaging Corp Of America and gave the stock a buy rating in a research report on Wednesday, January 10th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $128.00.

Packaging Corp Of America (NYSE:PKG) opened at $115.99 on Monday. The firm has a market capitalization of $10,940.00, a P/E ratio of 16.38, a P/E/G ratio of 1.85 and a beta of 1.84. Packaging Corp Of America has a 52-week low of $88.47 and a 52-week high of $131.13. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.61 billion. Packaging Corp Of America had a return on equity of 30.48% and a net margin of 10.37%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. analysts anticipate that Packaging Corp Of America will post 7.56 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in shares of Packaging Corp Of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock worth $129,000 after buying an additional 128 shares during the period. BKD Wealth Advisors LLC raised its stake in shares of Packaging Corp Of America by 16.8% in the fourth quarter. BKD Wealth Advisors LLC now owns 2,855 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Packaging Corp Of America by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 9,280 shares of the industrial products company’s stock valued at $1,119,000 after acquiring an additional 447 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Packaging Corp Of America by 5.1% in the third quarter. BB&T Securities LLC now owns 9,376 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 458 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in shares of Packaging Corp Of America by 12.1% in the third quarter. First Allied Advisory Services Inc. now owns 4,486 shares of the industrial products company’s stock valued at $516,000 after acquiring an additional 485 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

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About Packaging Corp Of America

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.

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

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