Packaging Corp Of America (PKG) Upgraded to “Buy” at DA Davidson

Packaging Corp Of America (NYSE:PKG) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Monday.

Other research analysts have also issued research 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. BMO Capital Markets reaffirmed a “buy” rating and issued a $130.00 target price on shares of Packaging Corp Of America in a research note on Thursday, January 25th. Stephens set a $136.00 target price on shares of Packaging Corp Of America and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America raised their target price on shares of Packaging Corp Of America from $134.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Barclays raised 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 note on Monday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $128.00.

Shares of Packaging Corp Of America (NYSE PKG) traded up $2.93 during trading hours on Monday, reaching $116.69. 779,146 shares of the company’s stock were exchanged, compared to its average volume of 874,559. Packaging Corp Of America has a 12-month low of $88.47 and a 12-month high of $131.13. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30. The company has a market cap of $11,010.00, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.81 and a beta of 1.84.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.61 billion. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 30.48%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. analysts expect that Packaging Corp Of America will post 7.56 EPS for the current year.

Several large investors have recently made changes to their positions in PKG. Raymond James Financial Services Advisors Inc. raised its position in shares of Packaging Corp Of America by 9.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,613 shares of the industrial products company’s stock valued at $1,071,000 after acquiring an additional 792 shares during the period. National Asset Management Inc. acquired a new stake in shares of Packaging Corp Of America in the 2nd quarter valued at approximately $214,000. Colony Group LLC acquired a new stake in shares of Packaging Corp Of America in the 2nd quarter valued at approximately $671,000. WINTON GROUP Ltd acquired a new stake in shares of Packaging Corp Of America in the 2nd quarter valued at approximately $805,000. Finally, Toronto Dominion Bank raised its position in shares of Packaging Corp Of America by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 88.31% 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.

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

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