Packaging Corp Of America (PKG) Stock Rating Upgraded by ValuEngine

Packaging Corp Of America (NYSE:PKG) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Wednesday.

PKG has been the topic of a number of other research reports. Deutsche Bank set a $120.00 target price on Packaging Corp Of America and gave the company a “hold” rating in a research note on Monday. Argus reduced their price target on Packaging Corp Of America from $130.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Citigroup reduced their price target on Packaging Corp Of America from $124.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, October 11th. BMO Capital Markets lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $130.00 to $108.00 in a research note on Tuesday, October 9th. Finally, Barclays reduced their price target on 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $116.91.

PKG stock opened at $95.86 on Wednesday. Packaging Corp Of America has a 1 year low of $83.54 and a 1 year high of $131.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73. The company has a market capitalization of $8.78 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.39 and a beta of 1.77.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 30.77% and a net margin of 11.54%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Analysts expect that Packaging Corp Of America will post 8.01 earnings per share for the current year.

Several institutional investors have recently modified their holdings of PKG. FMR LLC increased its holdings in shares of Packaging Corp Of America by 222.9% during the 2nd quarter. FMR LLC now owns 3,050,688 shares of the industrial products company’s stock worth $341,036,000 after buying an additional 2,105,782 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Packaging Corp Of America by 10.1% during the 2nd quarter. BlackRock Inc. now owns 9,488,674 shares of the industrial products company’s stock worth $1,060,741,000 after buying an additional 872,739 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Packaging Corp Of America by 461.6% during the 2nd quarter. Schroder Investment Management Group now owns 344,333 shares of the industrial products company’s stock worth $38,593,000 after buying an additional 283,016 shares during the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of Packaging Corp Of America by 19.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,588,384 shares of the industrial products company’s stock worth $177,565,000 after buying an additional 253,520 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new stake in shares of Packaging Corp Of America during the 2nd quarter worth $18,598,000. 87.12% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Packaging Corp Of America (NYSE:PKG)

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