Brokerages Set Packaging Corp Of America (NYSE:PKG) PT at $107.79

Shares of Packaging Corp Of America (NYSE:PKG) have received an average rating of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $107.79.

A number of equities research analysts recently issued reports on PKG shares. Argus upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Thursday, March 19th. Vertical Research downgraded Packaging Corp Of America from a “buy” rating to a “hold” rating and set a $117.00 price objective on the stock. in a research note on Tuesday, November 26th. Goldman Sachs Group downgraded Packaging Corp Of America from a “neutral” rating to a “sell” rating and set a $102.00 target price on the stock. in a research note on Tuesday, December 10th. Deutsche Bank raised their price target on Packaging Corp Of America from $100.00 to $115.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Exane BNP Paribas initiated coverage on Packaging Corp Of America in a report on Monday, December 2nd. They set a “neutral” rating and a $118.00 price target for the company.

Shares of PKG stock traded up $0.25 during trading on Friday, reaching $79.83. The company’s stock had a trading volume of 1,231,138 shares, compared to its average volume of 1,046,047. The business has a fifty day moving average price of $93.00 and a 200-day moving average price of $104.49. The company has a quick ratio of 2.33, a current ratio of 3.42 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 2.57 and a beta of 1.60. Packaging Corp Of America has a one year low of $71.05 and a one year high of $114.78.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.01. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Packaging Corp Of America had a net margin of 10.00% and a return on equity of 24.57%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 earnings per share. Research analysts anticipate that Packaging Corp Of America will post 5.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $3.16 annualized dividend and a yield of 3.96%. Packaging Corp Of America’s payout ratio is presently 41.31%.

In related news, Director Robert C. Lyons bought 1,000 shares of Packaging Corp Of America stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $96.88 per share, with a total value of $96,880.00. Following the acquisition, the director now directly owns 9,164 shares of the company’s stock, valued at $887,808.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Packaging Corp Of America in the fourth quarter worth about $114,083,000. Bank of America Corp DE grew its position in Packaging Corp Of America by 6.9% in the 4th quarter. Bank of America Corp DE now owns 6,942,326 shares of the industrial products company’s stock worth $777,471,000 after purchasing an additional 446,736 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Packaging Corp Of America by 36.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,533,551 shares of the industrial products company’s stock worth $171,742,000 after purchasing an additional 405,937 shares during the last quarter. Janus Henderson Group PLC grew its position in Packaging Corp Of America by 309.8% in the 4th quarter. Janus Henderson Group PLC now owns 374,799 shares of the industrial products company’s stock worth $41,973,000 after purchasing an additional 283,347 shares during the last quarter. Finally, Maj Invest Holding A S grew its position in Packaging Corp Of America by 11.4% in the 4th quarter. Maj Invest Holding A S now owns 1,820,124 shares of the industrial products company’s stock worth $203,837,000 after purchasing an additional 186,837 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

Packaging Corp Of America Company Profile

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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