Packaging Corp. of America Price Target Cut to $68.00 by Analysts at Jefferies Group (PKG)
Equities research analysts at Jefferies Group reduced their price objective on shares of Packaging Corp. of America (NYSE:PKG) to $68.00 in a research note issued to investors on Tuesday, StockRatingsNetwork reports. Jefferies Group’s price target points to a potential upside of 12.53% from the company’s current price.
A number of other firms have also recently commented on PKG. Analysts at Wells Fargo & Co. initiated coverage on shares of Packaging Corp. of America (NYSE:PKG) in a research note to investors on Wednesday, September 11th. They set a “market perform” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Packaging Corp. of America (NYSE:PKG) from $44.00 to $47.00 in a research note to investors on Monday, July 22nd. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Packaging Corp. of America (NYSE:PKG) in a research note to investors on Friday, July 19th. They now have a $62.00 price target on the stock, up previously from $58.00.
One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.50.
Shares of Packaging Corp. of America (NYSE:PKG) traded down 0.15% on Tuesday, hitting $60.34. The stock had a trading volume of 683,138 shares. Packaging Corp. of America has a 1-year low of $31.93 and a 1-year high of $60.45. The stock has a 50-day moving average of $54.18 and a 200-day moving average of $49.15. The company has a market cap of $5.839 billion and a P/E ratio of 26.16.
Packaging Corp. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 16th. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.63 by $0.08. The company had revenue of $800.20 million for the quarter, compared to the consensus estimate of $769.41 million. During the same quarter last year, the company posted $0.49 earnings per share. Packaging Corp. of America’s revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that Packaging Corp. of America will post $3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Wednesday, September 11th.
Packaging Corporation of America is a producer of containerboard in the United States. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products, including conventional shipping containers used to protect and transport manufactured goods, multi-color boxes and displays.
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