Packaging Corporation of America (NYSE:PKG) Receives $236.17 Average PT from Brokerages

Packaging Corporation of America (NYSE:PKG) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $236.1667.

A number of equities research analysts recently issued reports on PKG shares. Wall Street Zen raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Citigroup dropped their price target on shares of Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Packaging Corporation of America in a research report on Monday, December 29th. Finally, UBS Group increased their price target on Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 12th.

Packaging Corporation of America Price Performance

NYSE:PKG opened at $218.53 on Tuesday. Packaging Corporation of America has a one year low of $172.71 and a one year high of $241.96. The stock has a market cap of $19.66 billion, a PE ratio of 22.10, a P/E/G ratio of 1.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 3.16. The stock has a 50 day moving average price of $206.21 and a 200 day moving average price of $206.23.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.10). Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.72%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. Packaging Corporation of America’s payout ratio is presently 50.56%.

Institutional Investors Weigh In On Packaging Corporation of America

Institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in Packaging Corporation of America by 105.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 59 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Packaging Corporation of America during the third quarter worth about $31,000. Trust Co. of Toledo NA OH purchased a new position in shares of Packaging Corporation of America in the second quarter valued at approximately $33,000. Geneos Wealth Management Inc. grew its holdings in shares of Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 57 shares in the last quarter. Finally, NBT Bank N A NY purchased a new stake in Packaging Corporation of America during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.