Packaging Corp Of America (NYSE:PKG) had its target price lowered by Wells Fargo & Co from $140.00 to $110.00 in a research report report published on Friday. The firm currently has an outperform rating on the industrial products company’s stock.
A number of other analysts also recently commented on the company. KeyCorp reiterated a hold rating on shares of Packaging Corp Of America in a research report on Thursday, October 25th. Seaport Global Securities began coverage on Packaging Corp Of America in a research report on Tuesday, October 23rd. They issued a buy rating and a $112.00 price objective for the company. Citigroup reduced their price objective on Packaging Corp Of America from $124.00 to $98.00 and set a neutral rating for the company in a research report on Thursday, October 11th. ValuEngine downgraded Packaging Corp Of America from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Finally, BMO Capital Markets downgraded Packaging Corp Of America from an outperform rating to a market perform rating and reduced their price objective for the stock from $130.00 to $108.00 in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Packaging Corp Of America currently has an average rating of Hold and an average price target of $116.91.
Shares of NYSE:PKG opened at $89.34 on Friday. Packaging Corp Of America has a twelve month low of $83.54 and a twelve month high of $131.13. The company has a market cap of $8.54 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.36 and a beta of 1.77. The company has a quick ratio of 1.67, a current ratio of 2.73 and a debt-to-equity ratio of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 14th were given a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.54%. Packaging Corp Of America’s dividend payout ratio is currently 52.49%.
Institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Packaging Corp Of America in the 2nd quarter worth approximately $125,000. Acadian Asset Management LLC acquired a new position in shares of Packaging Corp Of America in the 2nd quarter worth approximately $155,000. Flagship Harbor Advisors LLC acquired a new position in shares of Packaging Corp Of America in the 2nd quarter worth approximately $165,000. Qube Research & Technologies Ltd acquired a new position in shares of Packaging Corp Of America in the 2nd quarter worth approximately $220,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Packaging Corp Of America in the 2nd quarter worth approximately $226,000. 87.12% of the stock is owned by institutional investors and hedge funds.
Packaging Corp Of America Company Profile
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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