Brokerages Set Packaging Corp Of America (NYSE:PKG) PT at $100.20

Packaging Corp Of America (NYSE:PKG) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $100.20.

Several equities research analysts recently commented on PKG shares. UBS Group set a $106.00 price target on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research note on Monday, June 24th. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Seaport Global Securities downgraded shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective on the stock. in a research report on Friday, July 12th. They noted that the move was a valuation call. Stephens downgraded shares of Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock. in a research report on Friday, April 26th. Finally, KeyCorp downgraded shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective on the stock. in a research report on Monday, July 15th.

Shares of PKG traded down $0.01 during midday trading on Friday, reaching $99.55. The stock had a trading volume of 26,401 shares, compared to its average volume of 990,323. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $118.88. The business has a fifty day moving average price of $99.63. The firm has a market capitalization of $9.43 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 2.56 and a beta of 1.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.18 and a current ratio of 3.29.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.04. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $2.08 EPS. Packaging Corp Of America’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts expect that Packaging Corp Of America will post 7.75 earnings per share for the current year.

In related news, SVP Donald R. Shirley sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the sale, the senior vice president now owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas W.H. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total transaction of $601,020.00. Following the sale, the senior vice president now directly owns 34,118 shares in the company, valued at approximately $3,417,600.06. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Packaging Corp Of America by 3.7% in the second quarter. Vanguard Group Inc. now owns 10,881,673 shares of the industrial products company’s stock valued at $1,037,241,000 after buying an additional 389,241 shares during the last quarter. BlackRock Inc. raised its position in shares of Packaging Corp Of America by 7.2% in the first quarter. BlackRock Inc. now owns 10,289,922 shares of the industrial products company’s stock valued at $1,022,613,000 after buying an additional 692,098 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Packaging Corp Of America by 81.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,972,606 shares of the industrial products company’s stock valued at $378,669,000 after buying an additional 1,788,655 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Packaging Corp Of America by 21.2% in the second quarter. JPMorgan Chase & Co. now owns 2,611,939 shares of the industrial products company’s stock valued at $245,418,000 after buying an additional 456,865 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Packaging Corp Of America by 1.2% in the first quarter. Wells Fargo & Company MN now owns 2,495,547 shares of the industrial products company’s stock valued at $248,007,000 after buying an additional 28,510 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

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