Packaging Corp. of America PT Raised to $75.00 at DA Davidson (PKG)
Equities research analysts at DA Davidson hoisted their price target on shares of Packaging Corp. of America (NYSE:PKG) to $75.00 in a research note issued to investors on Thursday, AR Network reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price target would suggest a potential upside of 6.16% from the stock’s previous close.
Shares of Packaging Corp. of America (NYSE:PKG) traded down 1.03% during mid-day trading on Thursday, hitting $71.32. 657,948 shares of the company’s stock traded hands. Packaging Corp. of America has a 1-year low of $38.91 and a 1-year high of $72.13. The stock has a 50-day moving average of $64.20 and a 200-day moving average of $59.69. The company has a market cap of $6.897 billion and a P/E ratio of 25.92.
Packaging Corp. of America (NYSE:PKG) last released its earnings data on Wednesday, February 12th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.89 by $0.15. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 71.7% on a year-over-year basis. Analysts expect that Packaging Corp. of America will post $4.28 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Packaging Corp. of America from an “outperform” rating to a “neutral” rating in a research note on Monday, January 27th. They now have a $69.30 price target on the stock. Separately, analysts at Ned Davis Research downgraded shares of Packaging Corp. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Packaging Corp. of America has a consensus rating of “Hold” and a consensus target price of $60.92.
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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