Equities researchers at Exane BNP Paribas started coverage on shares of Packaging Corp Of America (NYSE:PKG) in a research report issued on Monday, The Fly reports. The firm set a “neutral” rating and a $118.00 price target on the industrial products company’s stock. Exane BNP Paribas’ price objective points to a potential upside of 6.56% from the company’s current price.
Several other equities research analysts have also commented on PKG. Argus set a $118.00 price objective on Packaging Corp Of America and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America raised 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, October 24th. KeyCorp reaffirmed a “sell” rating and issued a $89.00 price target on shares of Packaging Corp Of America in a research note on Thursday, October 24th. Wells Fargo & Co boosted their price target on Packaging Corp Of America from $100.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 price objective for the company. in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $108.50.
Shares of NYSE PKG opened at $110.74 on Monday. The company’s 50-day simple moving average is $111.12 and its 200-day simple moving average is $102.19. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $114.78. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.93 and a beta of 1.68. The company has a quick ratio of 2.24, a current ratio of 3.28 and a debt-to-equity ratio of 0.88.
In other news, SVP Bruce A. Ridley sold 1,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $112.92, for a total transaction of $214,548.00. Following the transaction, the senior vice president now directly owns 17,589 shares in the company, valued at approximately $1,986,149.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in shares of Packaging Corp Of America by 774.2% during the 2nd quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 240 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Packaging Corp Of America during the 2nd quarter valued at about $35,000. Motco grew its holdings in shares of Packaging Corp Of America by 126.3% in the second quarter. Motco now owns 405 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 226 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of Packaging Corp Of America in the second quarter valued at about $40,000. Finally, Horan Capital Advisors LLC. purchased a new stake in shares of Packaging Corp Of America in the third quarter valued at about $44,000. 93.42% of the stock is owned by hedge funds and other institutional investors.
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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