Argus set a $118.00 price objective on Packaging Corp Of America (NYSE:PKG) in a research report released on Friday, TipRanks reports. The firm currently has a buy rating on the industrial products company’s stock.
PKG has been the subject of a number of other research reports. ValuEngine lowered shares of Packaging Corp Of America from a buy rating to a hold rating in a research report on Monday, October 7th. Wells Fargo & Co increased their target price on shares of Packaging Corp Of America from $100.00 to $102.00 and gave the stock a market perform rating in a research report on Friday. KeyCorp reiterated a sell rating and set a $89.00 target price on shares of Packaging Corp Of America in a research report on Thursday, October 24th. Bank of America increased their target price on shares of Packaging Corp Of America from $108.00 to $112.00 and gave the stock a neutral rating in a research report on Thursday, October 24th. Finally, Seaport Global Securities lowered shares of Packaging Corp Of America from a buy rating to a neutral rating and set a $98.02 target price for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Packaging Corp Of America presently has an average rating of Hold and an average target price of $105.82.
NYSE PKG opened at $112.51 on Friday. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $112.72. The company has a 50-day simple moving average of $106.01 and a 200 day simple moving average of $99.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.18 and a current ratio of 3.29. The company has a market capitalization of $10.27 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.82 and a beta of 1.71.
Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.02. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.79 billion. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 27.50%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $2.23 earnings per share. As a group, analysts forecast that Packaging Corp Of America will post 7.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were given a $0.79 dividend. The ex-dividend date was Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 39.35%.
In other news, SVP Thomas W.H. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total value of $601,020.00. Following the completion of the transaction, the senior vice president now directly owns 34,118 shares in the company, valued at $3,417,600.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in PKG. Parallel Advisors LLC lifted its position in Packaging Corp Of America by 774.2% during the second quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 240 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Packaging Corp Of America during the second quarter valued at approximately $35,000. Motco lifted its position in Packaging Corp Of America by 126.3% during the second quarter. Motco now owns 405 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 226 shares during the last quarter. First Mercantile Trust Co. bought a new stake in Packaging Corp Of America during the second quarter valued at approximately $40,000. Finally, Horan Capital Advisors LLC. bought a new stake in Packaging Corp Of America during the third quarter valued at approximately $44,000. Institutional investors own 88.13% 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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