Packaging Corporation of America (NYSE:PKG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Packaging Corporation anticipates second-quarter 2017 earnings of $1.45 per share, reflecting 16% year-over-year growth. It continues to implement its previously announced packaging segment price increases and expects higher corrugated products shipments in the second quarter. Energy costs are likely to improve as it enters into a seasonally milder weather. Moreover, the company will gain from acquisitions and its diverse product portfolio. The stock outperformed the Zacks categorized Containers-Paper/Plastic sub industry in the last one year. However, Packaging Corporation’s performance will be hurt by escalating expenses, continued price inflation on recycled fiber and strong competition.”

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research note on Monday. Deutsche Bank AG increased their price objective on shares of Packaging Corporation of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. Barclays PLC reduced their price objective on shares of Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Monday, May 1st. ValuEngine upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets increased their price objective on shares of Packaging Corporation of America from $104.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $96.33.

Packaging Corporation of America (NYSE PKG) traded down 1.20% during trading on Tuesday, reaching $111.11. The company’s stock had a trading volume of 353,451 shares. The company has a market cap of $10.38 billion, a P/E ratio of 22.67 and a beta of 1.88. Packaging Corporation of America has a 52 week low of $68.95 and a 52 week high of $113.52. The company’s 50 day moving average price is $104.68 and its 200 day moving average price is $95.10.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.03. Packaging Corporation of America had a net margin of 7.81% and a return on equity of 27.29%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $1.11 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Packaging Corporation of America will post $5.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.52 annualized dividend and a yield of 2.24%. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 51.43%.

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Large investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of Packaging Corporation of America during the first quarter valued at about $113,000. MSI Financial Services Inc increased its stake in shares of Packaging Corporation of America by 3.7% in the third quarter. MSI Financial Services Inc now owns 1,232 shares of the industrial products company’s stock valued at $100,000 after buying an additional 44 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of Packaging Corporation of America by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock valued at $119,000 after buying an additional 608 shares during the period. Robecosam AG increased its stake in shares of Packaging Corporation of America by 75.0% in the third quarter. Robecosam AG now owns 1,400 shares of the industrial products company’s stock valued at $112,000 after buying an additional 600 shares during the period. Finally, Creative Planning increased its stake in shares of Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock valued at $143,000 after buying an additional 484 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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Analyst Recommendations for Packaging Corporation of America (NYSE:PKG)

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