Packaging Corp Of America (NYSE:PKG) had its price objective decreased by stock analysts at Citigroup from $124.00 to $98.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 11.30% from the stock’s current price.
PKG has been the topic of a number of other research reports. ValuEngine cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research cut shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. BMO Capital Markets cut shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $130.00 to $108.00 in a research note on Tuesday. Barclays dropped their price target on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 30th. Finally, Wells Fargo & Co dropped their price target on shares of Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating on the stock in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Packaging Corp Of America currently has a consensus rating of “Hold” and a consensus price target of $125.50.
Shares of PKG stock opened at $88.05 on Thursday. Packaging Corp Of America has a 12 month low of $86.98 and a 12 month high of $131.13. The firm has a market cap of $10.37 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.77. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05.
Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts expect that Packaging Corp Of America will post 7.9 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in Packaging Corp Of America in the 2nd quarter worth about $125,000. Acadian Asset Management LLC bought a new position in Packaging Corp Of America in the 2nd quarter worth about $155,000. Flagship Harbor Advisors LLC bought a new position in Packaging Corp Of America in the 2nd quarter worth about $165,000. Qube Research & Technologies Ltd bought a new position in Packaging Corp Of America in the 2nd quarter worth about $220,000. Finally, Piedmont Investment Advisors LLC bought a new position in Packaging Corp Of America in the 2nd quarter worth about $226,000. Institutional investors own 87.16% of the company’s stock.
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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