Barclays PLC Increases Packaging Corporation of America (PKG) Price Target to $110.00

Packaging Corporation of America (NYSE:PKG) had its price target lifted by analysts at Barclays PLC from $108.00 to $110.00 in a note issued to investors on Monday. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays PLC’s price target suggests a potential downside of 5.39% from the stock’s previous close.

Several other research firms have also recently weighed in on PKG. Deutsche Bank AG reaffirmed a “hold” rating and set a $120.00 target price (up previously from $94.00) on shares of Packaging Corporation of America in a research note on Monday, October 9th. BidaskClub cut Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Stephens started coverage on Packaging Corporation of America in a research note on Tuesday, October 24th. They set an “overweight” rating and a $130.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $122.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research note on Tuesday, August 22nd. Finally, Wells Fargo & Company cut Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research note on Monday, July 10th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Packaging Corporation of America presently has a consensus rating of “Hold” and an average target price of $117.36.

Shares of Packaging Corporation of America (NYSE PKG) opened at 116.27 on Monday. Packaging Corporation of America has a 52-week low of $78.03 and a 52-week high of $120.75. The company has a 50 day moving average of $116.74 and a 200 day moving average of $108.98. The firm has a market capitalization of $10.89 billion, a PE ratio of 22.40 and a beta of 1.83.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $1.30 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Packaging Corporation of America will post $5.99 earnings per share for the current fiscal year.

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In other Packaging Corporation of America news, SVP Charles J. Carter sold 6,150 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $117.04, for a total transaction of $719,796.00. Following the completion of the sale, the senior vice president now owns 24,265 shares of the company’s stock, valued at $2,839,975.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas A. Hassfurther sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in Packaging Corporation 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 during the period. Northwestern Mutual Wealth Management Co. boosted its position in Packaging Corporation of America by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 665 shares during the period. Creative Planning boosted its position in Packaging Corporation of America by 7.9% during the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 123 shares during the period. Atria Investments LLC bought a new stake in Packaging Corporation of America during the second quarter worth approximately $200,000. Finally, Perpetual Ltd bought a new stake in Packaging Corporation of America during the second quarter worth approximately $201,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

Packaging Corporation 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.

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