Packaging Corp Of America (PKG) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Packaging Corp Of America (NYSE:PKG) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $120.80.

A number of analysts have recently weighed in on PKG shares. Stephens reaffirmed a “buy” rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. Zacks Investment Research raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Tuesday, June 26th. Barclays cut their price target on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 30th. ValuEngine raised shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets downgraded shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $108.00 in a report on Tuesday, October 9th.

Shares of Packaging Corp Of America stock traded down $0.42 on Friday, reaching $88.64. 12,031 shares of the stock were exchanged, compared to its average volume of 1,409,421. Packaging Corp Of America has a one year low of $86.98 and a one year high of $131.13. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05. The company has a market cap of $8.59 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.77.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Packaging Corp Of America will post 7.9 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 14th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, September 13th. Packaging Corp Of America’s payout ratio is 52.49%.

Hedge funds have recently added to or reduced their stakes in the company. Midas Management Corp bought a new position in shares of Packaging Corp Of America during the third quarter valued at $2,084,000. Korea Investment CORP raised its stake in shares of Packaging Corp Of America by 27.6% during the second quarter. Korea Investment CORP now owns 85,473 shares of the industrial products company’s stock valued at $9,555,000 after acquiring an additional 18,500 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Packaging Corp Of America by 625.0% during the second quarter. Bank of Nova Scotia now owns 88,751 shares of the industrial products company’s stock valued at $9,921,000 after acquiring an additional 76,510 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Packaging Corp Of America by 3.5% during the second quarter. Victory Capital Management Inc. now owns 1,634,214 shares of the industrial products company’s stock valued at $182,689,000 after acquiring an additional 54,599 shares during the last quarter. Finally, British Airways Pensions Investment Management Ltd bought a new position in shares of Packaging Corp Of America during the second quarter valued at $14,384,000. 87.25% of the stock is owned by hedge funds and other institutional investors.

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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