Deutsche Bank AG Reiterates Hold Rating for Packaging Corporation of America (PKG)

Packaging Corporation of America (NYSE:PKG)‘s stock had its “hold” rating restated by equities research analysts at Deutsche Bank AG in a research report issued on Monday. They currently have a $120.00 target price on the industrial products company’s stock, up from their previous target price of $94.00. Deutsche Bank AG’s price target indicates a potential upside of 2.15% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $122.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $128.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 18th. BidaskClub raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Vertical Research reaffirmed a “buy” rating and issued a $124.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.11.

Packaging Corporation of America (NYSE PKG) opened at 117.47 on Monday. The company’s 50-day moving average price is $114.48 and its 200-day moving average price is $106.25. The stock has a market capitalization of $11.00 billion, a PE ratio of 22.63 and a beta of 1.83. Packaging Corporation of America has a one year low of $78.03 and a one year high of $119.43.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. Equities research analysts predict that Packaging Corporation of America will post $6.04 EPS for the current year.

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In other news, VP Thomas A. Hassfurther sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PKG. BlackRock Inc. boosted its holdings in Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock valued at $1,222,607,000 after purchasing an additional 13,193,032 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Packaging Corporation of America by 6,234.6% in the second quarter. Janus Henderson Group PLC now owns 597,731 shares of the industrial products company’s stock valued at $66,587,000 after purchasing an additional 588,295 shares during the last quarter. American Century Companies Inc. purchased a new position in Packaging Corporation of America in the second quarter valued at about $59,914,000. Vanguard Group Inc. boosted its holdings in Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock valued at $754,848,000 after purchasing an additional 445,345 shares during the last quarter. Finally, FMR LLC boosted its holdings in Packaging Corporation of America by 41.9% in the second quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock valued at $153,902,000 after purchasing an additional 407,702 shares during the last quarter. 88.18% of the stock is owned by hedge funds and other institutional investors.

About Packaging Corporation of America

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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