Packaging Corp Of America Given Consensus Rating of “Buy” by Analysts (NYSE:PKG)
Shares of Packaging Corp Of America (NYSE:PKG) have received a consensus rating of “Buy” from the ten brokerages that are covering the company, Analyst RN reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.00.
In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 10,144 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $66.94, for a total value of $679,039.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Packaging Corp Of America (NYSE:PKG) traded up 0.82% on Thursday, hitting $70.26. The stock had a trading volume of 220,994 shares. Packaging Corp Of America has a one year low of $52.67 and a one year high of $75.10. The stock has a 50-day moving average of $66.79 and a 200-day moving average of $68.96. The company has a market cap of $6.827 billion and a P/E ratio of 13.71.
Packaging Corp Of America (NYSE:PKG) last released its earnings data on Monday, July 21st. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters 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 $4.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 11th.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets initiated coverage on shares of Packaging Corp Of America in a research note on Thursday. They set an “outperform” rating and a $76.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Packaging Corp Of America in a research note on Wednesday, July 30th. They now have a $79.00 price target on the stock, up previously from $77.00. Finally, 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, July 23rd. They now have an “equal weight” rating on the stock.
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.