Packaging Corp Of America (PKG) Rating Increased to Hold at Zacks Investment Research

Packaging Corp Of America (NYSE:PKG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Packaging Corporation’s fourth-quarter 2017 earnings will bear the impact of elevated annual outage costs. Escalating wood and energy costs, higher prices for certain key chemicals and rising freight costs also remain headwinds. Further, the fourth quarter will witness seasonally lower volumes as well as a seasonally less rich mix in corrugated products. However, Packaging Corporation expects packaging segment demand to remain strong in the fourth-quarter compared to the third quarter of 2017. The company will also gain from the Sacramento Container acquisition. Growth in the e-commerce and progress in DeRidder mill will also drive growth. Moreover, Packaging Corporation outperformed the industry it belongs to over the past year.”

A number of other equities analysts have also recently issued reports on PKG. Wells Fargo & Co reiterated a “market perform” rating and issued a $130.00 price objective (up from $115.00) on shares of Packaging Corp Of America in a report on Monday. ValuEngine upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Barclays upped their price objective on Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a report on Sunday, October 29th. Finally, Deutsche Bank restated a “hold” rating and set a $120.00 target price (up from $94.00) on shares of Packaging Corp Of America in a report on Monday, October 9th. Eight 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 “Hold” and a consensus target price of $118.92.

Packaging Corp Of America (NYSE PKG) traded up $1.24 on Tuesday, hitting $129.24. The stock had a trading volume of 365,290 shares, compared to its average volume of 733,974. Packaging Corp Of America has a 1 year low of $85.36 and a 1 year high of $130.19. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49. The stock has a market cap of $12,150.00, a PE ratio of 23.93, a P/E/G ratio of 2.31 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. Packaging Corp Of America’s revenue for the quarter was up 10.5% compared to the same quarter last year. research analysts expect that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,027 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the transaction, the senior vice president now owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles J. Carter sold 6,150 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $117.04, for a total value of $719,796.00. Following the transaction, the senior vice president now directly owns 24,265 shares of the company’s stock, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. Insiders have sold a total of 67,177 shares of company stock valued at $1,427,532 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Packaging Corp Of America by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock valued at $939,046,000 after purchasing an additional 191,348 shares during the last quarter. State Street Corp raised its position in Packaging Corp Of America by 1.0% during the 2nd quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after purchasing an additional 31,624 shares during the last quarter. First Eagle Investment Management LLC raised its position in Packaging Corp Of America by 17.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after purchasing an additional 319,452 shares during the last quarter. FMR LLC raised its position in Packaging Corp Of America by 41.9% during the 2nd 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. Finally, Northern Trust Corp raised its position in Packaging Corp Of America by 4.5% during the 2nd quarter. Northern Trust Corp now owns 1,078,479 shares of the industrial products company’s stock valued at $120,132,000 after purchasing an additional 46,737 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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Packaging Corp 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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