Packaging Corporation of America’s (PKG) “Hold” Rating Reiterated at KeyCorp

Packaging Corporation of America (NYSE:PKG)‘s stock had its “hold” rating reiterated by research analysts at KeyCorp in a research report issued to clients and investors on Sunday, October 29th. KeyCorp also issued estimates for Packaging Corporation of America’s Q4 2017 earnings at $1.50 EPS, FY2017 earnings at $5.98 EPS, FY2018 earnings at $6.43 EPS and FY2019 earnings at $7.05 EPS.

The analysts wrote, “We are also reducing our 2018 estimate on account of higher maintenance expense and lost production associated with its machine conversion. Given that we are reducing our estimates for both years, it only makes sense to reduce our 2019 estimate as well, which is what we are doing. Key Investment Points We are reducing our 2017 adjusted EPS estimate from $6.08 to $5.98, our 2018 EPS estimate from $6.59 to $6.43 (there is a wide range of estimates, but consensus is $6.75), and our 2019 EPS estimate from $7.35 to $7.05 (again, a wide range of estimates; consensus is $7.39).””

A number of other analysts also recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $128.00 price objective on shares of Packaging Corporation of America in a report on Friday, August 18th. BMO Capital Markets restated a “buy” rating and set a $118.00 price target on shares of Packaging Corporation of America in a report on Friday, August 4th. BidaskClub upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Vertical Research reiterated a “buy” rating and issued a $124.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a report on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Thursday, October 12th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Packaging Corporation of America has an average rating of “Hold” and a consensus price target of $117.36.

Shares of Packaging Corporation of America (NYSE PKG) opened at $112.71 on Friday. 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 Corporation of America has a 1-year low of $84.01 and a 1-year high of $120.75. The company has a market cap of $10,601.22, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.25 and a beta of 1.82.

Packaging Corporation of America (NYSE:PKG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the 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 Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. equities research analysts anticipate that Packaging Corporation of America will post 5.99 EPS for the current year.

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In other Packaging Corporation of America news, Director Jason Wayne Moreau purchased 1,326,000 shares of Packaging Corporation of America stock in a transaction on Thursday, September 14th. The shares were bought at an average price of $0.06 per share, with a total value of $79,560.00. Also, VP Thomas A. Hassfurther sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the transaction, the vice president now directly owns 155,071 shares in the company, valued at approximately $18,289,073.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,177 shares of company stock worth $2,129,972. 1.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank increased 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 last quarter. Advantage Investment Management LLC acquired a new stake in shares of Packaging Corporation of America in the third quarter worth $137,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Packaging Corporation of America by 84.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 665 shares in the last quarter. Creative Planning increased its position in shares of Packaging Corporation of America by 7.9% in the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 123 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of Packaging Corporation of America in the second quarter worth $200,000. 88.02% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Packaging Corporation of America (NYSE:PKG)

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