Packaging Corp Of America (NYSE:PKG) Coverage Initiated by Analysts at Exane BNP Paribas

Exane BNP Paribas initiated coverage on shares of Packaging Corp Of America (NYSE:PKG) in a report published on Monday morning, The Fly reports. The brokerage issued a neutral rating and a $118.00 price objective on the industrial products company’s stock.

PKG has been the topic of a number of other research reports. Vertical Research lowered Packaging Corp Of America from a buy rating to a hold rating and set a $117.00 target price on the stock. in a research note on Tuesday, November 26th. Citigroup raised their price target on Packaging Corp Of America from $101.00 to $108.00 and gave the stock a neutral rating in a research report on Thursday, October 17th. BNP Paribas initiated coverage on Packaging Corp Of America in a report on Monday. They issued a neutral rating and a $118.00 price target for the company. Wells Fargo & Co upped their price objective on Packaging Corp Of America from $100.00 to $102.00 and gave the company a market perform rating in a research report on Friday, October 25th. Finally, Bank of America increased their price objective on Packaging Corp Of America from $108.00 to $112.00 and gave the company a neutral rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $108.50.

Shares of NYSE PKG opened at $111.03 on Monday. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.93 and a beta of 1.68. Packaging Corp Of America has a 52 week low of $77.90 and a 52 week high of $114.78. The firm has a 50-day moving average price of $111.09 and a 200 day moving average price of $102.12. The company has a quick ratio of 2.24, a current ratio of 3.28 and a debt-to-equity ratio of 0.88.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.79 billion. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. Equities research analysts expect that Packaging Corp Of America will post 7.64 EPS for the current fiscal year.

In other news, SVP Bruce A. Ridley sold 1,900 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $112.92, for a total transaction of $214,548.00. Following the completion of the transaction, the senior vice president now owns 17,589 shares of the company’s stock, valued at approximately $1,986,149.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PKG. Bank of Montreal Can raised its stake in shares of Packaging Corp Of America by 5.2% in the 2nd quarter. Bank of Montreal Can now owns 47,403 shares of the industrial products company’s stock valued at $4,518,000 after acquiring an additional 2,334 shares during the period. Janney Montgomery Scott LLC increased its holdings in Packaging Corp Of America by 73.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,233 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 2,634 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Packaging Corp Of America by 20.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,210 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 1,368 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Packaging Corp Of America by 5.7% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 43,298 shares of the industrial products company’s stock valued at $4,127,000 after purchasing an additional 2,350 shares during the period. Finally, AQR Capital Management LLC raised its position in Packaging Corp Of America by 4.1% in the second quarter. AQR Capital Management LLC now owns 695,157 shares of the industrial products company’s stock valued at $65,943,000 after purchasing an additional 27,511 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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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The Fly

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

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