Insider Selling: Mark W. Kowlzan Unloads 24,000 Shares of Packaging Corp Of America Stock (PKG)
Packaging Corp Of America (NYSE:PKG) CEO Mark W. Kowlzan unloaded 24,000 shares of Packaging Corp Of America stock on the open market in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $72.42, for a total transaction of $1,738,080.00. Following the transaction, the chief executive officer now directly owns 372,590 shares of the company’s stock, valued at approximately $26,982,968. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Packaging Corp Of America from $60.00 to $67.00 in a research note on Tuesday, February 18th. They now have a “hold” rating on the stock. Separately, analysts at Ned Davis Research upgraded shares of Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, analysts at DA Davidson raised their price target on shares of Packaging Corp Of America to $75.00 in a research note on Thursday, February 13th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $62.59.
Shares of Packaging Corp Of America (NYSE:PKG) traded up 1.30% on Monday, hitting $73.16. 294,669 shares of the company’s stock traded hands. Packaging Corp Of America has a one year low of $41.10 and a one year high of $73.31. The stock’s 50-day moving average is $65.75 and its 200-day moving average is $60.47. The company has a market cap of $7.075 billion and a P/E ratio of 16.16.
Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, February 12th. The company reported $1.04 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.61 earnings per share. Packaging Corp Of America’s revenue was up 71.7% compared to the same quarter last year. On average, analysts predict that Packaging Corp Of America will post $4.63 earnings per share 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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