Packaging Co. of America (NYSE:PKG) PT Raised to $155.00

Packaging Co. of America (NYSE:PKG) had its price target lifted by equities researchers at Wells Fargo & Company from $145.00 to $155.00 in a research report issued to clients and investors on Monday, Analyst Price Targets reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 14.54% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley increased their target price on shares of Packaging Co. of America from $131.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, April 29th. BMO Capital Markets raised their price target on shares of Packaging Co. of America from $140.00 to $150.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Packaging Co. of America from $128.00 to $135.00 and gave the stock a “hold” rating in a research note on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $138.20.

Shares of PKG opened at $135.32 on Monday. Packaging Co. of America has a twelve month low of $92.01 and a twelve month high of $156.54. The stock has a market capitalization of $12.85 billion, a P/E ratio of 26.53, a P/E/G ratio of 3.88 and a beta of 0.90. The company has a current ratio of 3.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average price of $146.03.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Sunday, April 25th. The industrial products company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Packaging Co. of America had a net margin of 7.19% and a return on equity of 17.85%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Packaging Co. of America will post 7.42 EPS for the current year.

In other Packaging Co. of America news, SVP Charles J. Carter sold 9,161 shares of the stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $154.57, for a total transaction of $1,416,015.77. Following the transaction, the senior vice president now directly owns 39,572 shares in the company, valued at approximately $6,116,644.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of PKG. Los Angeles Capital Management LLC boosted its holdings in shares of Packaging Co. of America by 71.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 39,163 shares of the industrial products company’s stock valued at $5,401,000 after buying an additional 16,373 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Packaging Co. of America by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 5,094 shares of the industrial products company’s stock valued at $703,000 after buying an additional 347 shares in the last quarter. Aperio Group LLC boosted its holdings in shares of Packaging Co. of America by 5.1% in the 4th quarter. Aperio Group LLC now owns 59,630 shares of the industrial products company’s stock valued at $8,223,000 after buying an additional 2,920 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Packaging Co. of America by 15.2% in the 4th quarter. Toronto Dominion Bank now owns 64,005 shares of the industrial products company’s stock valued at $8,827,000 after buying an additional 8,460 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Packaging Co. of America by 4.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 142,563 shares of the industrial products company’s stock valued at $19,661,000 after buying an additional 6,553 shares in the last quarter. Institutional investors own 88.62% of the company’s stock.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Analyst Recommendations for Packaging Co. of America (NYSE:PKG)

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