Analysts Set Packaging Corp Of America (NYSE:PKG) Price Target at $100.20

Shares of Packaging Corp Of America (NYSE:PKG) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $100.20.

Several equities research analysts have recently weighed in on PKG shares. ValuEngine upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. KeyCorp cut shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective for the company. in a research report on Monday, July 15th. Stephens cut shares of Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective for the company. in a research report on Friday, April 26th. UBS Group set a $106.00 price objective on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Seaport Global Securities cut shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call.

In related news, SVP Donald R. Shirley sold 5,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the transaction, the senior vice president now directly owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Thomas W.H. Walton sold 6,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total transaction of $601,020.00. Following the transaction, the senior vice president now directly owns 34,118 shares in the company, valued at $3,417,600.06. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hartline Investment Corp lifted its stake in shares of Packaging Corp Of America by 1.0% in the second quarter. Hartline Investment Corp now owns 10,113 shares of the industrial products company’s stock valued at $964,000 after buying an additional 100 shares in the last quarter. CENTRAL TRUST Co lifted its stake in shares of Packaging Corp Of America by 3.2% in the second quarter. CENTRAL TRUST Co now owns 3,280 shares of the industrial products company’s stock valued at $325,000 after buying an additional 102 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of Packaging Corp Of America by 1.8% in the second quarter. Scotia Capital Inc. now owns 5,861 shares of the industrial products company’s stock valued at $559,000 after buying an additional 103 shares in the last quarter. KCS Wealth Advisory lifted its stake in shares of Packaging Corp Of America by 2.6% in the first quarter. KCS Wealth Advisory now owns 4,120 shares of the industrial products company’s stock valued at $409,000 after buying an additional 106 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Packaging Corp Of America by 1.8% in the first quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the industrial products company’s stock valued at $596,000 after buying an additional 108 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

NYSE PKG traded up $1.29 on Friday, hitting $101.28. The company’s stock had a trading volume of 781,000 shares, compared to its average volume of 933,916. The company has a quick ratio of 2.18, a current ratio of 3.29 and a debt-to-equity ratio of 0.92. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $118.88. The company’s 50-day moving average is $99.91 and its 200 day moving average is $97.61. The firm has a market cap of $9.42 billion, a PE ratio of 12.61, a PEG ratio of 2.57 and a beta of 1.71.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.04. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $2.08 EPS. The company’s revenue was down .4% on a year-over-year basis. On average, equities analysts expect that Packaging Corp Of America will post 7.7 EPS for the current year.

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

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