Packaging Corp Of America’s (PKG) Sell Rating Reaffirmed at KeyCorp

Packaging Corp Of America (NYSE:PKG)‘s stock had its “sell” rating reissued by research analysts at KeyCorp in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $89.00 price objective on the industrial products company’s stock. KeyCorp’s target price indicates a potential downside of 17.99% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Seaport Global Securities cut Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call. Bank of America increased their target price on Packaging Corp Of America from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup increased their target price on Packaging Corp Of America from $101.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Zacks Investment Research lowered Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 target price on the stock. in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Packaging Corp Of America presently has a consensus rating of “Hold” and a consensus target price of $103.82.

Shares of PKG traded down $1.54 during mid-day trading on Thursday, reaching $108.52. The company had a trading volume of 1,080,416 shares, compared to its average volume of 700,532. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $111.23. The company has a quick ratio of 2.18, a current ratio of 3.29 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $10.28 billion, a P/E ratio of 13.51, a PEG ratio of 2.83 and a beta of 1.71. The stock has a 50 day moving average of $104.94 and a two-hundred day moving average of $99.66.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.02. Packaging Corp Of America had a return on equity of 29.23% and a net margin of 11.23%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The company’s revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Packaging Corp Of America will post 7.69 earnings per share for the current year.

In other news, SVP Thomas W.H. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total transaction of $601,020.00. Following the transaction, the senior vice president now owns 34,118 shares in the company, valued at approximately $3,417,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald R. Shirley sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $101.48, for a total value of $507,400.00. Following the transaction, the senior vice president now owns 12,790 shares in the company, valued at approximately $1,297,929.20. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Several large investors have recently made changes to their positions in PKG. Hartline Investment Corp raised its stake in Packaging Corp Of America by 1.0% in the 2nd quarter. Hartline Investment Corp now owns 10,113 shares of the industrial products company’s stock valued at $964,000 after purchasing an additional 100 shares during the last quarter. CENTRAL TRUST Co raised its stake in Packaging Corp Of America by 3.2% in the 2nd quarter. CENTRAL TRUST Co now owns 3,280 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 102 shares during the last quarter. Scotia Capital Inc. raised its stake in Packaging Corp Of America by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 5,861 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 103 shares during the last quarter. Securian Asset Management Inc raised its stake in Packaging Corp Of America by 1.2% in the 2nd quarter. Securian Asset Management Inc now owns 9,721 shares of the industrial products company’s stock valued at $927,000 after purchasing an additional 115 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Packaging Corp Of America by 6.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,192 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 88.13% 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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