Packaging Corp Of America (PKG) Given Market Perform Rating at Wells Fargo & Co

Wells Fargo & Co restated their market perform rating on shares of Packaging Corp Of America (NYSE:PKG) in a research report sent to investors on Monday, The Fly reports. The firm currently has a $130.00 price target on the industrial products company’s stock, up from their prior price target of $115.00.

A number of other equities analysts also recently issued reports on 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. Zacks Investment Research raised shares of Packaging Corp Of America from a hold rating to a buy rating and set a $132.00 price target for the company in a research note on Thursday, October 12th. Barclays increased their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an equal weight rating in a research note on Monday, October 30th. KeyCorp reissued a hold rating on shares of Packaging Corp Of America in a research note on Wednesday, October 18th. Finally, Deutsche Bank reissued a hold rating and issued a $120.00 price target (up from $94.00) on shares of Packaging Corp Of America in a research note on Monday, October 9th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Packaging Corp Of America has a consensus rating of Hold and a consensus target price of $118.92.

Packaging Corp Of America (NYSE PKG) traded up $1.24 during trading on Monday, hitting $129.24. 365,200 shares of the stock were exchanged, compared to its average volume of 733,963. 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 stock has a market capitalization of $12,190.00, a price-to-earnings ratio of 23.93, a P/E/G ratio of 2.31 and a beta of 1.81. Packaging Corp Of America has a one year low of $85.36 and a one year high of $130.19.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. sell-side analysts anticipate that Packaging Corp Of America will post 5.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, December 26th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, December 22nd. Packaging Corp Of America’s payout ratio is currently 46.67%.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the transaction, the senior vice president now owns 32,690 shares of the company’s stock, valued at $3,796,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles J. Carter sold 6,150 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the transaction, the senior vice president now directly owns 24,265 shares of the company’s stock, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,177 shares of company stock valued at $1,427,532. 1.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Packaging Corp Of America by 2.3% during the second quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock valued at $939,046,000 after acquiring an additional 191,348 shares in the last quarter. State Street Corp increased its position in shares of Packaging Corp Of America by 1.0% during the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after acquiring an additional 31,624 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Packaging Corp Of America by 17.9% during the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after acquiring an additional 319,452 shares in the last quarter. FMR LLC increased its position in shares of Packaging Corp Of America by 41.9% during the second quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock valued at $153,902,000 after acquiring an additional 407,702 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Packaging Corp Of America by 4.5% during the second quarter. Northern Trust Corp now owns 1,078,479 shares of the industrial products company’s stock valued at $120,132,000 after acquiring an additional 46,737 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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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.

The Fly

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

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