Packaging Corporation of America (NYSE:PKG) has received an average rating of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $109.22.

A number of equities analysts have issued reports on PKG shares. BidaskClub cut shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. BMO Capital Markets reissued an “outperform” rating and issued a $122.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a report on Tuesday, August 22nd. ValuEngine raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Wells Fargo & Company cut shares of Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Packaging Corporation of America from a “sell” rating to a “neutral” rating and raised their target price for the stock from $105.00 to $111.00 in a report on Thursday, July 13th.

Packaging Corporation of America (PKG) traded up 1.34% during mid-day trading on Friday, hitting $113.79. The stock had a trading volume of 724,969 shares. The company has a 50-day moving average of $109.93 and a 200-day moving average of $102.35. Packaging Corporation of America has a 12-month low of $78.03 and a 12-month high of $114.44. The firm has a market cap of $10.66 billion, a PE ratio of 21.92 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company posted $1.25 earnings per share. Packaging Corporation of America’s revenue was up 11.8% on a year-over-year basis. Analysts expect that Packaging Corporation of America will post $6.02 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.21%. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 48.56%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PKG. Advisory Services Network LLC bought a new stake in shares of Packaging Corporation of America during the first quarter valued at approximately $113,000. TrimTabs Asset Management LLC increased its stake in shares of Packaging Corporation of America by 88.5% during the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 608 shares during the period. Toronto Dominion Bank increased its stake in shares of Packaging Corporation of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Packaging Corporation of America by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 665 shares during the period. Finally, Creative Planning increased its stake in shares of Packaging Corporation of America by 7.9% during the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 123 shares during the period. 88.59% of the stock is currently owned by institutional investors.

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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.

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

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