Packaging Corporation of America’s (NYSE:PKG) “Hold” Rating Reiterated at Deutsche Bank AG

Deutsche Bank AG reaffirmed their hold rating on shares of Packaging Corporation of America (NYSE:PKG) in a research report released on Monday, October 9th. They currently have a $120.00 target price on the industrial products company’s stock, up from their prior target price of $94.00.

Several other equities research analysts have also recently weighed in on PKG. BMO Capital Markets boosted their price objective on Packaging Corporation of America from $104.00 to $118.00 and gave the stock an outperform rating in a research note on Friday, June 30th. KeyCorp started coverage on Packaging Corporation of America in a research note on Thursday, July 6th. They set a sector weight rating on the stock. Wells Fargo & Company cut Packaging Corporation of America from an outperform rating to a market perform rating in a research note on Monday, July 10th. Zacks Investment Research upgraded Packaging Corporation of America from a sell rating to a hold rating in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a sell rating to a neutral rating and boosted their target price for the company from $105.00 to $111.00 in a research report on Thursday, July 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $114.10.

Packaging Corporation of America (PKG) traded down 0.28% during trading on Monday, reaching $116.42. The company’s stock had a trading volume of 793,535 shares. The company’s 50-day moving average is $115.18 and its 200-day moving average is $106.82. Packaging Corporation of America has a 12 month low of $78.03 and a 12 month high of $119.43. The stock has a market cap of $10.90 billion, a PE ratio of 22.43 and a beta of 1.83.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. Equities analysts expect that Packaging Corporation of America will post $6.04 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Packaging Corporation of America’s (NYSE:PKG) “Hold” Rating Reiterated at Deutsche Bank AG” was originally posted by BBNS and is owned by of BBNS. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://baseballnewssource.com/markets/deutsche-bank-ag-reiterates-hold-rating-for-packaging-corporation-of-america-pkg/1702732.html.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 15th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is 48.56%.

In related news, VP Thomas A. Hassfurther sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the transaction, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of PKG. UBS Asset Management Americas Inc. boosted its holdings in Packaging Corporation of America by 26.9% in the first quarter. UBS Asset Management Americas Inc. now owns 261,484 shares of the industrial products company’s stock valued at $23,957,000 after purchasing an additional 55,475 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Packaging Corporation of America by 26.4% during the 1st quarter. Stifel Financial Corp now owns 16,366 shares of the industrial products company’s stock worth $1,501,000 after acquiring an additional 3,415 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Packaging Corporation of America by 3.0% during the 1st quarter. Alliancebernstein L.P. now owns 85,195 shares of the industrial products company’s stock worth $7,806,000 after acquiring an additional 2,471 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Packaging Corporation of America by 4.9% during the 1st quarter. Van ECK Associates Corp now owns 2,268 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 106 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Packaging Corporation of America by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 963,385 shares of the industrial products company’s stock worth $88,266,000 after acquiring an additional 20,476 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Analyst Recommendations for Packaging Corporation of America (NYSE:PKG)

Receive News & Ratings for Packaging Corporation of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corporation of America and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cora Becomes New Manager for Boston Red Sox
Alex Cora Becomes New Manager for Boston Red Sox
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends


Leave a Reply

 
© 2006-2017 BBNS.