Packaging Corp Of America (PKG) Raised 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 report published on Monday morning.

Several other research analysts also recently commented on PKG. KeyCorp reaffirmed a hold rating on shares of Packaging Corp Of America in a research report on Friday, February 2nd. Bank of America lifted their price target 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 lifted their price target 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 reaffirmed a buy rating and issued a $130.00 price target on shares of Packaging Corp Of America in a research report on Thursday, January 25th. Finally, Barclays lifted their price target on Packaging Corp Of America from $108.00 to $110.00 and gave the stock an equal weight rating in a research report on Monday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Packaging Corp Of America currently has an average rating of Buy and a consensus price target of $128.00.

Packaging Corp Of America (PKG) opened at $117.93 on Monday. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $11,130.00, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.84 and a beta of 1.84. Packaging Corp Of America has a 1 year low of $88.47 and a 1 year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last issued 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. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.61 billion. Packaging Corp Of America had a return on equity of 30.48% and a net margin of 10.37%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. equities analysts anticipate that Packaging Corp Of America will post 7.56 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased 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 valued at $129,000 after purchasing an additional 128 shares during the period. BKD Wealth Advisors LLC grew its position in 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 during the period. CIBC Asset Management Inc grew its position in 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 during the period. BB&T Securities LLC grew its position in 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 during the period. Finally, First Allied Advisory Services Inc. grew its position in 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 during the period. 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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