Packaging Corp Of America Rating Increased to Outperform at Zacks (PKG)
Packaging Corp Of America (NYSE:PKG) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has a $75.10 price objective on the stock. Zacks‘ price objective suggests a potential upside of 3.89% from the stock’s previous close.
Packaging Corp Of America (NYSE:PKG) traded down 0.27% during mid-day trading on Tuesday, hitting $72.0953. 299,666 shares of the company’s stock traded hands. Packaging Corp Of America has a 1-year low of $41.12 and a 1-year high of $73.31. The stock has a 50-day moving average of $66.03 and a 200-day moving average of $60.69. The company has a market cap of $6.972 billion and a P/E ratio of 16.17.
Packaging Corp Of America (NYSE:PKG) last announced its earnings results 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 $4.63 EPS for the current fiscal year.
In other Packaging Corp Of America news, CEO Mark Kowlzan sold 24,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $72.42, for a total transaction of $1,738,080.00. Following the sale, the chief executive officer now directly owns 372,590 shares of the company’s stock, valued at approximately $26,982,968. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about 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, six have assigned a hold rating and six have assigned a buy rating to the stock. Packaging Corp Of America presently has a consensus rating of “Hold” and an average price target of $63.23.
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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