Packaging Corporation of America (PKG) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Packaging Corporation of America (NYSE:PKG) in a research note published on Tuesday, August 22nd. BMO Capital Markets currently has a $122.00 price objective on the industrial products company’s stock, up from their previous price objective of $118.00.

Several other research firms have also recently weighed in on PKG. Jefferies Group LLC reissued a buy rating and set a $128.00 target price (up previously from $114.00) on shares of Packaging Corporation of America in a research note on Friday, July 14th. Zacks Investment Research raised shares of Packaging Corporation of America from a sell rating to a hold rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Packaging Corporation of America from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. KeyCorp started coverage on shares of Packaging Corporation of America in a research note on Thursday, July 6th. They issued a sector weight rating for the company. Finally, Goldman Sachs Group, Inc. (The) raised shares of Packaging Corporation of America from a sell rating to a neutral rating and lifted their price objective for the company from $105.00 to $111.00 in a research note on Thursday, July 13th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $106.73.

Packaging Corporation of America (NYSE PKG) traded down 0.23% during midday trading on Tuesday, hitting $111.63. The company’s stock had a trading volume of 527,789 shares. The company’s 50-day moving average is $109.84 and its 200 day moving average is $102.19. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 21.51 and a beta of 1.86. Packaging Corporation of America has a one year low of $78.03 and a one year high of $114.31.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.05. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. On average, analysts predict that Packaging Corporation of America will post $6.02 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a $0.63 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.26%. Packaging Corporation of America’s payout ratio is currently 48.56%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its position in 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 valued at $143,000 after buying an additional 484 shares in the last quarter. Bank of Montreal Can boosted its position in Packaging Corporation of America by 9.3% in the first quarter. Bank of Montreal Can now owns 79,744 shares of the industrial products company’s stock valued at $7,306,000 after buying an additional 6,802 shares in the last quarter. Capstone Asset Management Co. boosted its position in Packaging Corporation of America by 2.8% in the first quarter. Capstone Asset Management Co. now owns 11,188 shares of the industrial products company’s stock valued at $1,025,000 after buying an additional 310 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Packaging Corporation of America by 22.9% in the first quarter. Nisa Investment Advisors LLC now owns 45,279 shares of the industrial products company’s stock valued at $4,148,000 after buying an additional 8,426 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Packaging Corporation of America by 0.9% in the first quarter. Retirement Systems of Alabama now owns 121,620 shares of the industrial products company’s stock valued at $11,143,000 after buying an additional 1,028 shares in the last quarter. 88.59% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Packaging Corporation of America (NYSE:PKG)




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