Packaging Corp Of America (PKG) Price Target Raised to $120.00

Packaging Corp Of America (NYSE:PKG) had its price target raised by Barclays from $110.00 to $120.00 in a research report issued on Monday. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays’ price target would suggest a potential upside of 2.64% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Stephens initiated coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 24th. They issued an “overweight” rating and a $130.00 target price for the company. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. ValuEngine upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo & Co restated a “market perform” rating and issued a $130.00 target price (up from $115.00) on shares of Packaging Corp Of America in a research report on Monday, January 8th. Finally, KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Wednesday, October 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Packaging Corp Of America has a consensus rating of “Buy” and an average target price of $128.00.

Shares of Packaging Corp Of America (NYSE:PKG) traded up $3.15 during trading hours on Monday, hitting $116.91. 576,125 shares of the stock traded hands, compared to its average volume of 895,436. The firm has a market cap of $10,730.00, a PE ratio of 16.40, a PEG ratio of 1.81 and a beta of 1.84. 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 has a one year low of $88.47 and a one year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.51 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 30.48%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. sell-side analysts forecast that Packaging Corp Of America will post 7.56 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in Packaging Corp Of America by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 128 shares during the last quarter. BKD Wealth Advisors LLC lifted its position in shares of Packaging Corp Of America by 16.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 2,855 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 411 shares during the period. CIBC Asset Management Inc lifted its position in shares of Packaging Corp Of America by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 9,280 shares of the industrial products company’s stock worth $1,119,000 after purchasing an additional 447 shares during the period. BB&T Securities LLC lifted its position in shares of Packaging Corp Of America by 5.1% in the 3rd quarter. BB&T Securities LLC now owns 9,376 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 458 shares during the period. Finally, First Allied Advisory Services Inc. lifted its position in shares of Packaging Corp Of America by 12.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 4,486 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 485 shares during the period. 88.31% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Packaging Corp Of America (NYSE:PKG)

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