Investors Buy High Volume of Packaging Corp Of America Call Options (PKG)
Packaging Corp Of America (NYSE:PKG) was the target of unusually large options trading activity on Monday. Stock investors bought 2,244 call options on the stock. This is an increase of approximately 1,087% compared to the average volume of 189 call options.
Several equities research analysts recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research note on Wednesday, October 18th. Zacks Investment Research lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Jefferies Group reiterated a “buy” rating and set a $128.00 price objective on shares of Packaging Corp Of America in a research note on Friday, August 18th. Vertical Research reiterated a “buy” rating and set a $124.00 price objective (up previously from $118.00) on shares of Packaging Corp Of America in a research note on Wednesday, August 23rd. Finally, Barclays increased their price objective on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $117.36.
In other news, VP Thomas A. Hassfurther sold 6,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the transaction, the vice president now owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason Wayne Moreau purchased 1,326,000 shares of Packaging Corp Of America stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $0.06 per share, for a total transaction of $79,560.00. Insiders have sold 73,177 shares of company stock worth $2,135,172 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
Shares of Packaging Corp Of America (NYSE PKG) opened at $117.34 on Thursday. Packaging Corp Of America has a 12 month low of $84.01 and a 12 month high of $120.75. The company has a market cap of $11,219.22, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.81. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $1.30 EPS. Packaging Corp Of America’s revenue for the quarter was up 10.5% compared to the same quarter last year. equities research analysts forecast that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.
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About Packaging Corp 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.
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