Packaging Corp Of America (PKG) PT Set at $136.00 by Stephens

Stephens set a $136.00 price objective on Packaging Corp Of America (NYSE:PKG) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the industrial products company’s stock.

PKG has been the subject of several other research reports. Zacks Investment Research cut Packaging Corp Of America from a hold rating to a sell rating in a research note on Tuesday, December 19th. KeyCorp reissued a hold rating on shares of Packaging Corp Of America in a research note on Wednesday, October 18th. Deutsche Bank reissued a hold rating and issued a $120.00 price target (up previously from $94.00) on shares of Packaging Corp Of America in a research note on Monday, October 9th. Wells Fargo & Co reissued a market perform rating and issued a $130.00 price target (up previously from $115.00) on shares of Packaging Corp Of America in a research note on Monday, January 8th. Finally, ValuEngine raised Packaging Corp Of America from a hold rating to a buy rating in a research note on Sunday, December 31st. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $118.92.

Shares of Packaging Corp Of America (NYSE:PKG) opened at $128.32 on Wednesday. The firm has a market capitalization of $12,106.99, a PE ratio of 23.76, a PEG ratio of 2.29 and a beta of 1.82. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49. 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 issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.01). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. sell-side analysts expect that Packaging Corp Of America will post 5.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, December 26th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $2.52 annualized dividend and a yield of 1.96%. Packaging Corp Of America’s dividend payout ratio is currently 46.67%.

In related news, SVP Charles J. Carter sold 6,150 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total value of $700,036.05. Following the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The disclosure for this sale can be found here. Insiders have sold 67,177 shares of company stock valued at $1,427,532 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in Packaging Corp Of America during the third quarter worth approximately $14,544,000. First Eagle Investment Management LLC boosted its holdings in Packaging Corp Of America by 17.9% in the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock worth $240,839,000 after acquiring an additional 319,452 shares in the last quarter. State Street Corp boosted its holdings in Packaging Corp Of America by 1.0% in the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock worth $371,683,000 after acquiring an additional 31,624 shares in the last quarter. Morse Asset Management Inc boosted its holdings in Packaging Corp Of America by 20.3% in the third quarter. Morse Asset Management Inc now owns 5,922 shares of the industrial products company’s stock worth $679,000 after acquiring an additional 1,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in Packaging Corp Of America by 23.5% in the second quarter. TIAA CREF Investment Management LLC now owns 565,067 shares of the industrial products company’s stock worth $62,943,000 after acquiring an additional 107,348 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.

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

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