Packaging Corporation of America (NYSE:PKG)‘s stock had its “hold” rating reaffirmed by stock analysts at KeyCorp in a research report issued on Thursday.

A number of other brokerages have also commented on PKG. Jefferies Group LLC reiterated a “buy” rating and issued a $128.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 18th. BMO Capital Markets restated a “buy” rating and issued a $118.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Vertical Research reiterated a “buy” rating and set a $124.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $114.10.

Shares of Packaging Corporation of America (PKG) traded down 1.03% on Thursday, hitting $115.50. 809,339 shares of the company traded hands. Packaging Corporation of America has a 1-year low of $78.03 and a 1-year high of $119.43. The firm has a market capitalization of $10.82 billion, a P/E ratio of 22.25 and a beta of 1.83. The firm’s 50-day moving average is $114.88 and its 200 day moving average is $106.39.

Packaging Corporation of America (NYSE:PKG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, analysts anticipate that Packaging Corporation of America will post $6.04 earnings per share for the current fiscal year.

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In related news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares in the company, valued at $18,289,073.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Southeast Asset Advisors Inc. lifted its position in shares of Packaging Corporation of America by 0.3% in the second quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock valued at $508,000 after acquiring an additional 12 shares in the last quarter. Van ECK Associates Corp increased its stake in Packaging Corporation of America by 1.5% in the second quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 34 shares during the last quarter. Advisor Partners LLC increased its stake in Packaging Corporation of America by 1.2% in the second quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock valued at $353,000 after purchasing an additional 39 shares during the last quarter. Somerset Trust Co increased its stake in 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 purchasing an additional 51 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in Packaging Corporation of America by 1.8% in the second quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 88.18% 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.

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

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