Packaging Corp Of America (PKG) PT Raised to $112.00

Packaging Corp Of America (NYSE:PKG) had its price objective raised by Citigroup Inc from $106.00 to $112.00 in a research note issued to investors on Friday, April 14th. They currently have a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also commented on PKG. Zacks Investment Research lowered shares of Packaging Corp Of America from a buy rating to a hold rating in a report on Thursday, January 12th. Jefferies Group LLC lifted their price target on shares of Packaging Corp Of America from $97.00 to $104.00 and gave the stock a buy rating in a report on Thursday, February 2nd. DA Davidson downgraded shares of Packaging Corp Of America from a buy rating to a neutral rating and set a $96.00 target price for the company. in a research note on Tuesday, January 31st. They noted that the move was a valuation call. Barclays PLC downgraded shares of Packaging Corp Of America from an overweight rating to an equal weight rating and lowered their target price for the stock from $92.00 to $90.00 in a research note on Monday, February 6th. Finally, BMO Capital Markets raised shares of Packaging Corp Of America from a market perform rating to an outperform rating and set a $100.00 target price for the company in a research note on Wednesday, January 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $95.17.

Shares of Packaging Corp Of America (NYSE:PKG) traded up 0.13% on Friday, hitting $99.35. The stock had a trading volume of 439,146 shares. Packaging Corp Of America has a 12-month low of $62.41 and a 12-month high of $103.17. The firm has a market capitalization of $9.28 billion, a P/E ratio of 20.27 and a beta of 1.84. The company has a 50 day moving average of $96.04 and a 200-day moving average of $90.68.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. Packaging Corp Of America had a net margin of 7.76% and a return on equity of 27.81%. Packaging Corp Of America’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities analysts predict that Packaging Corp Of America will post $5.93 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, June 13th. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 53.05%.

A number of hedge funds have recently bought and sold shares of PKG. First Manhattan Co. raised its stake in Packaging Corp Of America by 0.4% in the first quarter. First Manhattan Co. now owns 5,550 shares of the industrial products company’s stock worth $450,000 after buying an additional 21 shares during the period. MSI Financial Services Inc raised its stake in Packaging Corp Of America by 3.7% in the third quarter. MSI Financial Services Inc now owns 1,232 shares of the industrial products company’s stock worth $100,000 after buying an additional 44 shares during the period. Quadrant Capital Group LLC raised its stake in Packaging Corp Of America by 1.5% in the first quarter. Quadrant Capital Group LLC now owns 2,974 shares of the industrial products company’s stock worth $270,000 after buying an additional 44 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Packaging Corp Of America by 1.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 4,049 shares of the industrial products company’s stock worth $343,000 after buying an additional 49 shares during the period. Finally, Capital Innovations LLC raised its stake in Packaging Corp Of America by 1.8% in the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock worth $319,000 after buying an additional 60 shares during the period. 85.38% of the stock is currently 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.

5 Day Chart for NYSE:PKG

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