Brokerages Set Packaging Corporation of America (PKG) PT at $109.22

Packaging Corporation of America (NYSE:PKG) has received a consensus recommendation of “Hold” from the fourteen analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $109.22.

Several brokerages recently issued reports on PKG. BMO Capital Markets raised their price target on Packaging Corporation of America from $104.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. KeyCorp initiated coverage on Packaging Corporation of America in a research note on Thursday, July 6th. They set a “sector weight” rating on the stock. Wells Fargo & Company downgraded Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research note on Monday, July 10th. Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) raised Packaging Corporation of America from a “sell” rating to a “neutral” rating and lifted their target price for the company from $105.00 to $111.00 in a research note on Thursday, July 13th.

Shares of Packaging Corporation of America (NYSE:PKG) traded down 0.48% during midday trading on Wednesday, reaching $116.50. The company’s stock had a trading volume of 527,852 shares. The firm has a market capitalization of $10.91 billion, a PE ratio of 22.45 and a beta of 1.83. Packaging Corporation of America has a 1-year low of $78.03 and a 1-year high of $119.43. The company’s 50-day moving average price is $113.97 and its 200 day moving average price is $105.68.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, topping the 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 business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts forecast that Packaging Corporation of America will post $6.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. Packaging Corporation of America’s payout ratio is 48.56%.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PKG. BlackRock Inc. lifted its position in shares of Packaging Corporation of America by 8,719.3% during the 1st quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock worth $1,222,607,000 after purchasing an additional 13,193,032 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Packaging Corporation of America by 6,234.6% during the 2nd quarter. Janus Henderson Group PLC now owns 597,731 shares of the industrial products company’s stock worth $66,587,000 after purchasing an additional 588,295 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Packaging Corporation of America during the 2nd quarter worth about $59,914,000. Vanguard Group Inc. lifted its position in shares of Packaging Corporation of America by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock worth $754,848,000 after purchasing an additional 445,345 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Packaging Corporation of America by 41.9% during the 2nd quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock worth $153,902,000 after purchasing an additional 407,702 shares during the last quarter. 88.18% of the stock is owned by institutional investors and hedge funds.

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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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