Packaging Corp Of America (NYSE:PKG) had its price target upped by stock analysts at Wells Fargo & Co from $130.00 to $150.00 in a report issued on Thursday. The brokerage presently has a “market perform” rating on the industrial products company’s stock. Wells Fargo & Co’s target price would indicate a potential upside of 21.42% from the company’s current price.
A number of other research analysts have also recently commented on PKG. BMO Capital Markets reaffirmed a “buy” rating and issued a $130.00 target price on shares of Packaging Corp Of America in a research report on Thursday, January 25th. DA Davidson upped their target price on shares of Packaging Corp Of America to $135.00 and gave the company a “positive” rating in a research report on Thursday. Barclays upped their target price on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research report on Sunday, October 29th. Finally, Zacks Investment Research raised shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Packaging Corp Of America has a consensus rating of “Buy” and a consensus price target of $127.17.
Shares of Packaging Corp Of America (PKG) traded down $2.09 on Thursday, hitting $123.54. 1,651,266 shares of the company were exchanged, compared to its average volume of 852,117. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49. 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 capitalization of $11,620.00, a price-to-earnings ratio of 17.45, a P/E/G ratio of 2.15 and a beta of 1.81.
Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank lifted its position in shares of Packaging Corp Of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 128 shares in the last quarter. Advantage Investment Management LLC acquired a new stake in shares of Packaging Corp Of America during the third quarter worth about $137,000. Field & Main Bank acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth about $168,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth about $205,000. Finally, Conning Inc. acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth about $211,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.
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.