BMO Capital Markets reissued their buy rating on shares of Packaging Corporation of America (NYSE:PKG) in a research report sent to investors on Friday, August 4th. BMO Capital Markets currently has a $118.00 price objective on the industrial products company’s stock.
A number of other research firms have also recently weighed in on PKG. Barclays PLC dropped their target price on shares of Packaging Corporation of America from $100.00 to $90.00 and set an equal weight rating on the stock in a research note on Monday, May 1st. BidaskClub cut shares of Packaging Corporation of America from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Citigroup Inc. boosted their target price on shares of Packaging Corporation of America from $106.00 to $112.00 and gave the company a neutral rating in a research note on Friday, April 14th. Jefferies Group LLC reiterated a buy rating and issued a $107.00 target price on shares of Packaging Corporation of America in a research note on Wednesday, April 12th. Finally, ValuEngine upgraded shares of Packaging Corporation of America from a hold rating to a buy rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $102.73.
Shares of Packaging Corporation of America (PKG) opened at 110.57 on Friday. The firm has a market capitalization of $10.35 billion, a P/E ratio of 21.30 and a beta of 1.86. Packaging Corporation of America has a 52 week low of $74.95 and a 52 week high of $114.31. The company has a 50-day moving average of $110.47 and a 200 day moving average of $100.59.
Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts anticipate that Packaging Corporation of America will post $6.02 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in PKG. Advisory Services Network LLC acquired a new stake in shares of Packaging Corporation of America during the first quarter worth approximately $113,000. TrimTabs Asset Management LLC boosted its stake in shares of Packaging Corporation of America by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock worth $119,000 after buying an additional 608 shares during the last quarter. Creative Planning boosted its stake in shares of Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock worth $143,000 after buying an additional 484 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Packaging Corporation of America by 84.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock worth $161,000 after buying an additional 665 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Packaging Corporation of America by 12.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,150 shares of the industrial products company’s stock worth $197,000 after buying an additional 231 shares during the last quarter. Institutional investors own 88.92% of the company’s stock.
Packaging Corporation of America Company Profile
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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