Packaging Corp Of America (NYSE:PKG) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $101.85.
Several brokerages have weighed in on PKG. TheStreet raised shares of Packaging Corp Of America from a “c+” rating to a “b-” rating in a research note on Tuesday, June 2nd. KeyCorp decreased their price objective on shares of Packaging Corp Of America from $89.00 to $79.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. They noted that the move was a valuation call. Wells Fargo & Co decreased their price objective on shares of Packaging Corp Of America from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Argus raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Thursday, May 14th. Finally, Morgan Stanley began coverage on shares of Packaging Corp Of America in a research note on Monday, June 15th. They set an “equal weight” rating and a $93.00 price target on the stock.
Shares of PKG traded up $0.60 during trading hours on Tuesday, reaching $98.62. 9,596 shares of the company traded hands, compared to its average volume of 844,738. The stock has a market cap of $9.07 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 3.63 and a beta of 1.28. The stock’s fifty day moving average is $98.87 and its 200 day moving average is $97.87. Packaging Corp Of America has a 1-year low of $71.05 and a 1-year high of $114.78. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.42 and a current ratio of 3.51.
Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Monday, April 27th. The industrial products company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.28. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Packaging Corp Of America had a net margin of 9.39% and a return on equity of 22.37%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, equities research analysts predict that Packaging Corp Of America will post 5.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.16 annualized dividend and a yield of 3.20%. Packaging Corp Of America’s dividend payout ratio is currently 41.31%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Procyon Private Wealth Partners LLC acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth $27,000. Bartlett & Co. LLC acquired a new stake in shares of Packaging Corp Of America during the first quarter worth $35,000. CWM Advisors LLC bought a new position in Packaging Corp Of America in the first quarter valued at $38,000. Cornerstone Advisors Inc. grew its position in Packaging Corp Of America by 75.2% in the first quarter. Cornerstone Advisors Inc. now owns 452 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 194 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in Packaging Corp Of America in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 89.14% 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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