Packaging Corp Of America (PKG) Given New $105.00 Price Target at Argus

Packaging Corp Of America (NYSE:PKG) had its price objective cut by Argus from $130.00 to $105.00 in a research note issued to investors on Friday morning. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts have also commented on PKG. ValuEngine lowered shares of Packaging Corp Of America from a hold rating to a sell rating in a research report on Monday, July 2nd. Stephens restated a buy rating on shares of Packaging Corp Of America in a research report on Thursday, July 5th. Citigroup reduced their price target on shares of Packaging Corp Of America from $128.00 to $121.00 and set a neutral rating for the company in a research report on Tuesday, July 10th. Wells Fargo & Co reduced their price target on shares of Packaging Corp Of America from $150.00 to $140.00 and set a market perform rating for the company in a research report on Friday, July 27th. Finally, Barclays reduced their price target on shares of Packaging Corp Of America from $125.00 to $120.00 and set an equal weight rating for the company in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $119.10.

Shares of PKG traded up $1.37 during mid-day trading on Friday, reaching $90.39. 1,648,137 shares of the stock traded hands, compared to its average volume of 1,677,039. The firm has a market capitalization of $8.41 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.77. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.73 and a quick ratio of 1.67. Packaging Corp Of America has a 1 year low of $83.54 and a 1 year high of $131.13.



Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Packaging Corp Of America had a net margin of 11.54% and a return on equity of 30.77%. On average, analysts expect that Packaging Corp Of America will post 7.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 14th were given a $0.79 dividend. The ex-dividend date was Thursday, September 13th. This represents a $3.16 annualized dividend and a yield of 3.50%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 52.49%.

A number of large investors have recently made changes to their positions in PKG. Itau Unibanco Holding S.A. purchased a new position in Packaging Corp Of America in the second quarter worth $125,000. Acadian Asset Management LLC purchased a new position in Packaging Corp Of America in the second quarter worth $155,000. Flagship Harbor Advisors LLC purchased a new position in Packaging Corp Of America in the second quarter worth $165,000. Qube Research & Technologies Ltd purchased a new position in Packaging Corp Of America in the second quarter worth $220,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Packaging Corp Of America in the second quarter worth $226,000. Institutional investors own 87.21% 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.

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

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