Packaging Corp Of America (NYSE:PKG) had its price target upped by research analysts at Bank of America from $134.00 to $138.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the industrial products company’s stock. Bank of America’s price target indicates a potential upside of 11.70% from the stock’s current price.
Several other equities analysts also recently weighed in on the company. Wells Fargo & Co raised their price objective on Packaging Corp Of America from $130.00 to $150.00 and gave the company a “market perform” rating in a research note on Thursday. DA Davidson raised their price objective on Packaging Corp Of America to $135.00 and gave the company a “positive” rating in a research note on Thursday. BMO Capital Markets reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Packaging Corp Of America in a research note on Thursday, January 25th. Stephens set a $136.00 price objective on Packaging Corp Of America and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Zacks Investment Research raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $127.17.
Packaging Corp Of America (PKG) traded down $2.09 during midday trading on Thursday, reaching $123.54. The company had a trading volume of 1,651,266 shares, compared to its average volume of 852,117. Packaging Corp Of America has a 12-month low of $88.47 and a 12-month high of $131.13. The stock has a market cap of $11,620.00, a P/E ratio of 17.45, a P/E/G ratio of 2.15 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.
Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Packaging Corp Of America in the third quarter valued at $14,544,000. First Eagle Investment Management LLC grew its position in shares of 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 valued at $240,839,000 after purchasing an additional 319,452 shares during the period. State Street Corp grew its position in shares of Packaging Corp Of America by 1.0% in 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 during the period. Morse Asset Management Inc grew its position in shares of Packaging Corp Of America by 20.3% in the third quarter. Morse Asset Management Inc now owns 5,922 shares of the industrial products company’s stock valued at $679,000 after purchasing an additional 1,000 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Packaging Corp Of America by 23.8% in the third quarter. American Century Companies Inc. now owns 665,822 shares of the industrial products company’s stock valued at $76,356,000 after purchasing an additional 127,944 shares during the period. 89.84% of the stock is owned by institutional investors and hedge funds.
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.
