Packaging Corp Of America Given Average Recommendation of “Buy” by Analysts (NYSE:PKG)
Packaging Corp Of America (NYSE:PKG) has earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, Analyst Ratings Network reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $73.01.
In other Packaging Corp Of America news, SVP Kent A. Pflederer sold 2,750 shares of Packaging Corp Of America stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $66.51, for a total value of $182,902.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on PKG shares. Analysts at Barclays raised their price target on shares of Packaging Corp Of America from $68.00 to $72.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Analysts at Credit Agricole upgraded shares of Packaging Corp Of America from an “underperform” rating to a “buy” rating in a research note on Wednesday.
Shares of Packaging Corp Of America (NYSE:PKG) opened at 67.78 on Wednesday. Packaging Corp Of America has a 1-year low of $51.70 and a 1-year high of $75.10. The stock’s 50-day moving average is $69.55 and its 200-day moving average is $68.61. The company has a market cap of $6.567 billion and a price-to-earnings ratio of 13.62.
Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Monday, July 21st. The company reported $1.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.11 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company posted $0.71 earnings per share. Packaging Corp Of America’s revenue was up 83.5% compared to the same quarter last year. On average, analysts predict that Packaging Corp Of America will post $4.69 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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