Packaging Corp. of America Reaches New 12-Month High at $61.59 (PKG)
Packaging Corp. of America (NYSE:PKG)’s share price reached a new 52-week high during trading hours on Tuesday, American Banking News.com reports. The company traded as high as $61.59 and last traded at $61.57, with a volume of 761,511 shares traded. The stock had previously closed at $60.96.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. upgraded shares of Packaging Corp. of America from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, October 17th. Separately, analysts at Barclays raised their price target on shares of Packaging Corp. of America from $50.00 to $54.00 in a research note to investors on Wednesday, October 16th. They now have an “equal weight” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Packaging Corp. of America in a research note to investors on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.00.
Packaging Corp. of America has a 1-year low of $31.93 and a 1-year high of $55.79. The stock has a 50-day moving average of $53.97 and a 200-day moving average of $48.91. The company has a market cap of $5.960 billion and a price-to-earnings ratio of 21.93.
Packaging Corp. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $842.40 million for the quarter, compared to the consensus estimate of $830.70 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts expect that Packaging Corp. of America will post $3.08 EPS for the current fiscal year.
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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