Packaging Corp Of America (NYSE:PKG) Downgraded to Underweight at KeyCorp

KeyCorp cut shares of Packaging Corp Of America (NYSE:PKG) from a sector weight rating to an underweight rating in a report published on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $89.00 target price on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Seaport Global Securities lowered shares of Packaging Corp Of America from a buy rating to a neutral rating and set a $98.02 price target on the stock. in a research report on Friday, July 12th. They noted that the move was a valuation call. Stephens set a $100.00 price target on shares of Cullen/Frost Bankers and gave the stock a hold rating in a research report on Friday, April 26th. UBS Group reaffirmed a sell rating on shares of in a research report on Monday, June 24th. Bank of America lowered shares of Propetro from a buy rating to a neutral rating in a research report on Tuesday, April 16th. Finally, ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Packaging Corp Of America presently has an average rating of Hold and a consensus target price of $100.09.

NYSE PKG opened at $97.99 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.05 and a quick ratio of 1.93. The stock’s fifty day moving average price is $95.55. Packaging Corp Of America has a 1 year low of $77.90 and a 1 year high of $118.88. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.40 and a beta of 1.72.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.02. Packaging Corp Of America had a net margin of 11.12% and a return on equity of 30.86%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Packaging Corp Of America will post 8.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a $0.79 dividend. The ex-dividend date was Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.22%. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.

Several large investors have recently added to or reduced their stakes in the business. Comerica Securities Inc. raised its stake in shares of Packaging Corp Of America by 12.0% in the fourth quarter. Comerica Securities Inc. now owns 9,116 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 976 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Packaging Corp Of America by 12.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,874 shares of the industrial products company’s stock valued at $824,000 after acquiring an additional 1,087 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Packaging Corp Of America by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,218 shares of the industrial products company’s stock valued at $70,288,000 after acquiring an additional 145,624 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Packaging Corp Of America by 38.4% in the fourth quarter. Brown Advisory Inc. now owns 3,087 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 856 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Packaging Corp Of America by 3.0% in the fourth quarter. California State Teachers Retirement System now owns 155,563 shares of the industrial products company’s stock valued at $12,983,000 after acquiring an additional 4,492 shares in the last quarter. Hedge funds and other institutional investors own 88.85% of the company’s stock.

Packaging Corp Of America Company Profile

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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