Packaging Corporation of America (NYSE:PKG) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $128.00 price objective (up from $114.00) on shares of Packaging Corporation of America in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised Packaging Corporation of America from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $105.00 to $111.00 in a report on Thursday, July 13th. Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Wells Fargo & Company cut Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Finally, KeyCorp assumed coverage on Packaging Corporation of America in a report on Thursday, July 6th. They issued a “sector weight” rating for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Packaging Corporation of America has a consensus rating of “Buy” and an average price target of $102.73.

Shares of Packaging Corporation of America (PKG) traded up 0.69% on Wednesday, hitting $112.28. The company had a trading volume of 756,937 shares. The firm has a 50-day moving average price of $108.34 and a 200 day moving average price of $97.50. The company has a market capitalization of $10.49 billion, a P/E ratio of 22.91 and a beta of 1.88. Packaging Corporation of America has a 12-month low of $73.10 and a 12-month high of $114.31.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.03. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. Packaging Corporation of America had a return on equity of 27.29% and a net margin of 7.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. Equities analysts expect that Packaging Corporation of America will post $5.95 EPS for the current year.

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A number of institutional investors have recently modified their holdings of the company. First Manhattan Co. boosted its position in shares of Packaging Corporation of America by 0.4% in the first quarter. First Manhattan Co. now owns 5,550 shares of the industrial products company’s stock valued at $450,000 after buying an additional 21 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Packaging Corporation of America by 1.5% in the first quarter. Quadrant Capital Group LLC now owns 2,974 shares of the industrial products company’s stock valued at $270,000 after buying an additional 44 shares during the last quarter. Somerset Trust Co boosted its position in shares of Packaging Corporation of America by 0.4% in the second quarter. Somerset Trust Co now owns 12,154 shares of the industrial products company’s stock valued at $1,353,000 after buying an additional 51 shares during the last quarter. Capital Innovations LLC boosted its position in shares of Packaging Corporation of America by 1.8% in the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock valued at $319,000 after buying an additional 60 shares during the last quarter. Finally, Advisor Partners LLC boosted its position in shares of Packaging Corporation of America by 2.1% in the first quarter. Advisor Partners LLC now owns 3,131 shares of the industrial products company’s stock valued at $287,000 after buying an additional 65 shares during the last quarter. 88.29% of the stock is owned by institutional investors and hedge funds.

About Packaging Corporation of America

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.

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

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