Packaging Corp Of America (NYSE:PKG) was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Marketbeat.com reports. They currently have a $93.00 price objective on the industrial products company’s stock, down from their previous price objective of $110.00. Wells Fargo & Co‘s target price would indicate a potential upside of 2.67% from the company’s current price.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BMO Capital Markets downgraded shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $130.00 to $108.00 in a report on Tuesday, October 9th. ValuEngine cut shares of Packaging Corp Of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Citigroup reduced their price target on shares of Packaging Corp Of America from $124.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, October 11th. Finally, Seaport Global Securities started coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $112.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $108.10.
Packaging Corp Of America stock traded down $0.29 during mid-day trading on Wednesday, reaching $90.58. 8,619 shares of the company were exchanged, compared to its average volume of 1,035,013. The company has a quick ratio of 1.74, a current ratio of 2.76 and a debt-to-equity ratio of 0.99. The firm has a market cap of $8.24 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.20 and a beta of 1.80. Packaging Corp Of America has a 12-month low of $77.90 and a 12-month high of $131.13.
Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Equities analysts expect that Packaging Corp Of America will post 8.02 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of PKG. Bessemer Group Inc. acquired a new position in Packaging Corp Of America in the third quarter valued at $122,000. Itau Unibanco Holding S.A. acquired a new position in Packaging Corp Of America in the second quarter valued at $125,000. Flagship Harbor Advisors LLC acquired a new position in Packaging Corp Of America in the second quarter valued at $165,000. First Hawaiian Bank increased its stake in Packaging Corp Of America by 5.2% in the fourth quarter. First Hawaiian Bank now owns 2,438 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 120 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Packaging Corp Of America in the second quarter valued at $220,000. Institutional investors own 86.57% 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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