Packaging Corp Of America (NYSE:PKG) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Wednesday, April 25th. Finally, Citigroup lowered their price target on shares of Packaging Corp Of America from $136.00 to $123.00 and set a “neutral” rating for the company in a research report on Thursday, April 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Packaging Corp Of America currently has an average rating of “Hold” and a consensus price target of $128.67.
Packaging Corp Of America stock opened at $112.82 on Monday. The stock has a market cap of $10.55 billion, a PE ratio of 18.74, a PEG ratio of 1.69 and a beta of 1.83. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.72 and a quick ratio of 1.58. Packaging Corp Of America has a one year low of $105.81 and a one year high of $131.13.
Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. Packaging Corp Of America had a net margin of 10.48% and a return on equity of 28.10%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. equities research analysts predict that Packaging Corp Of America will post 7.96 EPS for the current year.
In related news, Director Paul T. Stecko sold 566 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $120.94, for a total value of $68,452.04. Following the completion of the sale, the director now owns 69,077 shares of the company’s stock, valued at $8,354,172.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Packaging Corp Of America in the first quarter worth about $3,467,000. Chesapeake Wealth Management acquired a new stake in Packaging Corp Of America in the first quarter worth about $297,000. Suntrust Banks Inc. lifted its holdings in Packaging Corp Of America by 14.9% in the first quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 490 shares during the period. Howard Capital Management Inc. lifted its holdings in Packaging Corp Of America by 5.8% in the first quarter. Howard Capital Management Inc. now owns 73,446 shares of the industrial products company’s stock worth $8,277,000 after purchasing an additional 4,037 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Packaging Corp Of America by 7.0% in the 1st quarter. Allianz Asset Management GmbH now owns 425,333 shares of the industrial products company’s stock valued at $47,935,000 after acquiring an additional 27,769 shares during the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.
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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