Packaging Corp Of America (PKG) Receives Consensus Rating of “Hold” from Brokerages
Shares of Packaging Corp Of America (NYSE:PKG) have been given a consensus rating of “Hold” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $117.73.
PKG has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a report on Wednesday, October 18th. Deutsche Bank reaffirmed a “hold” rating and set a $120.00 price target (up from $94.00) on shares of Packaging Corp Of America in a report on Monday, October 9th. Stephens began coverage on Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target for the company. Finally, ValuEngine raised Packaging Corp Of America from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
In other Packaging Corp Of America news, SVP Charles J. Carter sold 6,150 shares of Packaging Corp Of America stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $117.04, for a total value of $719,796.00. Following the completion of the sale, the senior vice president now owns 24,265 shares in the company, valued at approximately $2,839,975.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Thomas W.H. Walton sold 6,027 shares of Packaging Corp Of America stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the sale, the senior vice president now owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,177 shares of company stock valued at $1,427,532. Company insiders own 1.20% of the company’s stock.
Shares of Packaging Corp Of America (NYSE:PKG) traded up $1.24 during mid-day trading on Friday, hitting $129.24. 365,200 shares of the stock traded hands, compared to its average volume of 733,963. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. The firm has a market cap of $12,190.00, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.81. Packaging Corp Of America has a 1 year low of $85.36 and a 1 year high of $130.19.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share 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 for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. analysts expect that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, December 26th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, December 22nd. Packaging Corp Of America’s dividend payout ratio is currently 46.67%.
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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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