Packaging Corp Of America (PKG) Rating Increased to Outperform at Wells Fargo & Co

Packaging Corp Of America (NYSE:PKG) was upgraded by research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday.

Other analysts have also issued reports about the stock. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Thursday, October 12th. Stephens set a $136.00 price target on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $130.00 price target on shares of Packaging Corp Of America in a research note on Thursday, January 25th. Finally, Barclays upped their price target 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Packaging Corp Of America has an average rating of “Buy” and a consensus target price of $119.58.

Packaging Corp Of America (NYSE:PKG) traded down $1.31 during trading on Wednesday, reaching $123.40. 880,795 shares of the company’s stock were exchanged, compared to its average volume of 720,143. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49. The firm has a market cap of $11,770.00, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.17 and a beta of 1.81. Packaging Corp Of America has a 52-week low of $88.47 and a 52-week high of $131.13.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.61 billion. Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. Packaging Corp Of America’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. research analysts anticipate that Packaging Corp Of America will post 5.99 earnings per share for the current year.

In related news, SVP Thomas W.H. Walton sold 6,027 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the sale, the senior vice president now directly owns 32,690 shares in the company, valued at approximately $3,796,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 61,027 shares of company stock worth $707,736 over the last quarter. Insiders own 1.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PKG. State Street Corp grew its position in Packaging Corp Of America by 1.0% during the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after purchasing an additional 31,624 shares in the last quarter. First Eagle Investment Management LLC grew its position in Packaging Corp Of America by 17.9% in the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock worth $240,839,000 after acquiring an additional 319,452 shares in the last quarter. FMR LLC grew its position in Packaging Corp Of America by 41.9% in the second quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock worth $153,902,000 after acquiring an additional 407,702 shares in the last quarter. APG Asset Management N.V. grew its position in Packaging Corp Of America by 28.1% in the fourth quarter. APG Asset Management N.V. now owns 1,248,128 shares of the industrial products company’s stock worth $125,301,000 after acquiring an additional 273,900 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in Packaging Corp Of America by 16.2% in the third quarter. Neuberger Berman Group LLC now owns 964,913 shares of the industrial products company’s stock worth $110,656,000 after acquiring an additional 134,260 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

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Packaging Corp 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.