Packaging Corp Of America (PKG) Rating Increased to Buy at DA Davidson

Packaging Corp Of America (NYSE:PKG) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Other analysts have also issued research reports about the company. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a report on Friday, February 2nd. Zacks Investment Research upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. BMO Capital Markets reiterated a “buy” rating and issued a $130.00 price target on shares of Packaging Corp Of America in a report on Thursday, January 25th. Stephens set a $136.00 price target on Packaging Corp Of America and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Co boosted their price target on Packaging Corp Of America from $130.00 to $150.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $128.00.

Packaging Corp Of America (NYSE PKG) opened at $116.03 on Monday. Packaging Corp Of America has a 12-month low of $88.47 and a 12-month high of $131.13. The stock has a market capitalization of $10,950.00, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 1.81 and a beta of 1.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.05. Packaging Corp Of America had a return on equity of 30.48% and a net margin of 10.37%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. equities research analysts forecast that Packaging Corp Of America will post 7.56 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of PKG. Victory Capital Management Inc. lifted its holdings in Packaging Corp Of America by 7,416.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,383,784 shares of the industrial products company’s stock worth $166,815,000 after buying an additional 1,365,373 shares during the period. APG Asset Management N.V. lifted its holdings in Packaging Corp Of America by 76.4% during the third quarter. APG Asset Management N.V. now owns 974,228 shares of the industrial products company’s stock worth $111,724,000 after buying an additional 422,100 shares during the period. First Eagle Investment Management LLC lifted its holdings in 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 worth $240,839,000 after buying an additional 319,452 shares during the period. Janus Henderson Group PLC lifted its holdings in Packaging Corp Of America by 46.2% during the third quarter. Janus Henderson Group PLC now owns 873,664 shares of the industrial products company’s stock worth $100,192,000 after buying an additional 275,933 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Packaging Corp Of America by 144.2% during the third quarter. Legal & General Group Plc now owns 463,659 shares of the industrial products company’s stock worth $53,172,000 after buying an additional 273,755 shares during the period. Institutional investors own 88.31% of the company’s stock.

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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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