Packaging Corp Of America (PKG) Given New $95.00 Price Target at Barclays

Share on StockTwits

Packaging Corp Of America (NYSE:PKG) had its price objective lowered by Barclays from $100.00 to $95.00 in a research report report published on Monday. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank set a $120.00 target price on Packaging Corp Of America and gave the stock a hold rating in a report on Monday. Argus dropped their target price on Packaging Corp Of America from $130.00 to $105.00 and set a buy rating for the company in a report on Friday. Wells Fargo & Co dropped their target price on Packaging Corp Of America from $140.00 to $110.00 and set an outperform rating for the company in a report on Friday. KeyCorp reissued a hold rating on shares of Packaging Corp Of America in a report on Thursday, October 25th. Finally, Seaport Global Securities assumed coverage on Packaging Corp Of America in a report on Tuesday, October 23rd. They issued a buy rating and a $112.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $116.91.

Shares of PKG traded up $1.89 during mid-day trading on Monday, reaching $91.23. The company had a trading volume of 437,078 shares, compared to its average volume of 1,728,708. Packaging Corp Of America has a twelve month low of $83.54 and a twelve month high of $131.13. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05. The stock has a market cap of $8.54 billion, a PE ratio of 15.15, a PEG ratio of 1.36 and a beta of 1.77.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 30.77% and a net margin of 11.54%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. On average, sell-side analysts forecast that Packaging Corp Of America will post 7.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 14th were given a dividend of $0.79 per share. The ex-dividend date was Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a yield of 3.46%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 52.49%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKG. Itau Unibanco Holding S.A. bought a new stake in Packaging Corp Of America during the 2nd quarter worth approximately $125,000. Acadian Asset Management LLC bought a new stake in Packaging Corp Of America during the 2nd quarter worth approximately $155,000. Flagship Harbor Advisors LLC bought a new stake in Packaging Corp Of America during the 2nd quarter worth approximately $165,000. Qube Research & Technologies Ltd bought a new stake in Packaging Corp Of America during the 2nd quarter worth approximately $220,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Packaging Corp Of America during the 2nd quarter worth approximately $226,000. Institutional investors and hedge funds own 87.12% of the company’s stock.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

See Also: Should I invest in “strong buy” stocks?

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

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply