Packaging Co. of America (PKG) Price Target Cut to $123.00

Packaging Co. of America (NYSE:PKG) had its target price reduced by Citigroup from $136.00 to $123.00 in a report issued on Thursday morning. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms have also commented on PKG. Zacks Investment Research raised shares of Packaging Co. of America from a sell rating to a hold rating in a research report on Tuesday, January 9th. Wells Fargo reaffirmed a market perform rating and set a $130.00 price target (up previously from $115.00) on shares of Packaging Co. of America in a research report on Monday, January 8th. Stephens set a $136.00 price target on shares of Packaging Co. of America and gave the company a buy rating in a research report on Wednesday, January 10th. BMO Capital Markets reaffirmed a buy rating and set a $130.00 price target on shares of Packaging Co. of America in a research report on Thursday, January 25th. Finally, DA Davidson boosted their target price on Packaging Co. of America to $135.00 and gave the company a positive rating in a research report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $128.92.

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PKG stock opened at $110.14 on Thursday. The company has a market cap of $10,676.63, a PE ratio of 18.30, a PEG ratio of 1.78 and a beta of 1.82. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30. Packaging Co. of America has a one year low of $89.73 and a one year high of $131.13.

Packaging Co. 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, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.61 billion. Packaging Co. of America had a net margin of 10.37% and a return on equity of 28.85%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. analysts forecast that Packaging Co. of America will post 7.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, March 14th. Packaging Co. of America’s payout ratio is 41.86%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Advisors raised its position in Packaging Co. of America by 12.9% in the fourth quarter. Colonial Trust Advisors now owns 14,127 shares of the industrial products company’s stock valued at $1,703,000 after purchasing an additional 1,611 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Packaging Co. of America by 3.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 30,556 shares of the industrial products company’s stock worth $3,684,000 after acquiring an additional 1,037 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Packaging Co. of America by 20.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 66,621 shares of the industrial products company’s stock worth $8,029,000 after acquiring an additional 11,258 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Packaging Co. of America by 99.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 83,348 shares of the industrial products company’s stock worth $10,048,000 after acquiring an additional 41,608 shares in the last quarter. Finally, Banco de Sabadell S.A acquired a new position in shares of Packaging Co. of America in the fourth quarter worth $2,356,000. 88.84% of the stock is currently owned by institutional investors.

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Packaging Co. 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.

Analyst Recommendations for Packaging Co. of America (NYSE:PKG)

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