Packaging Corp Of America (PKG) Lifted to “Hold” at Zacks Investment Research

Packaging Corp Of America (NYSE:PKG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, January 9th.

According to Zacks, “Packaging Corporation’s fourth-quarter 2017 earnings will bear the impact of elevated annual outage costs. Escalating wood and energy costs, higher prices for certain key chemicals and rising freight costs also remain headwinds. Further, the fourth quarter will witness seasonally lower volumes as well as a seasonally less rich mix in corrugated products. However, Packaging Corporation expects packaging segment demand to remain strong in the fourth-quarter compared to the third quarter of 2017. The company will also gain from the Sacramento Container acquisition. Growth in the e-commerce and progress in DeRidder mill will also drive growth. Moreover, Packaging Corporation outperformed the industry it belongs to over the past year.”

PKG has been the subject of several other research reports. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research note on Wednesday, October 18th. Barclays boosted their price objective on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, October 30th. Wells Fargo & Co reissued a “market perform” rating and issued a $130.00 price objective (up previously from $115.00) on shares of Packaging Corp Of America in a research note on Monday, January 8th. Stephens started coverage on Packaging Corp Of America in a research report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target on the stock. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $120.00 price target (up from $94.00) on shares of Packaging Corp Of America in a research report on Monday, October 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Packaging Corp Of America currently has an average rating of “Buy” and an average price target of $127.17.

Packaging Corp Of America (PKG) opened at $123.10 on Tuesday. The company has a market capitalization of $11,614.48, a PE ratio of 20.41, a P/E/G ratio of 2.09 and a beta of 1.84. Packaging Corp Of America has a 12-month low of $88.47 and a 12-month 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 released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.05. Packaging Corp Of America had a return on equity of 30.48% and a net margin of 10.37%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. analysts expect that Packaging Corp Of America will post 7.2 EPS for the current year.

Several institutional investors have recently modified their holdings of the business. Southeast Asset Advisors Inc. raised its position in shares of Packaging Corp Of America by 0.3% in the second quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock worth $508,000 after acquiring an additional 12 shares during the period. Van ECK Associates Corp raised its position in shares of Packaging Corp Of America by 1.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 34 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in shares of Packaging Corp Of America by 1.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 69 shares during the last quarter. Comerica Securities Inc. raised its position in shares of Packaging Corp Of America by 1.3% during the 2nd quarter. Comerica Securities Inc. now owns 9,420 shares of the industrial products company’s stock worth $1,055,000 after purchasing an additional 118 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Packaging Corp Of America by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

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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.

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