Packaging Corp Of America (PKG) Boosted to Purchase at ValuEngine

Packaging Corp Of America (PKG) Boosted to Purchase at ValuEngine

ValuEngine upgraded shares of Packaging Corp Of America (NYSE:PKG) from a hold rating to a buy rating in a report released on Friday.

A number of other equities analysts have also issued reports on the company. Jefferies Group LLC increased their price target on Packaging Corp Of America from $97.00 to $104.00 and gave the company a buy rating in a research note on Thursday, February 2nd. Barclays PLC lowered Packaging Corp Of America from an overweight rating to an equal weight rating and decreased their price target for the company from $92.00 to $90.00 in a research note on Monday, February 6th. Bank of America Corp reaffirmed a buy rating and set a $106.00 price target (up from $103.00) on shares of Packaging Corp Of America in a research note on Tuesday, February 21st. Citigroup Inc increased their price target on Packaging Corp Of America from $106.00 to $112.00 and gave the company a neutral rating in a research note on Friday, April 14th. Finally, Deutsche Bank AG increased their price target on Packaging Corp Of America from $91.00 to $94.00 and gave the company a hold rating in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $95.17.

Shares of Packaging Corp Of America (PKG) traded up 0.34% during trading on Friday, reaching $104.55. The company had a trading volume of 275,346 shares. Packaging Corp Of America has a 12 month low of $62.41 and a 12 month high of $104.88. The stock’s 50-day moving average price is $99.37 and its 200-day moving average price is $92.25. The stock has a market capitalization of $9.77 billion, a PE ratio of 21.33 and a beta of 1.84.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. Packaging Corp Of America had a return on equity of 26.05% and a net margin of 7.64%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.11 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts forecast that Packaging Corp Of America will post $5.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.42%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 53.05%.

Several large investors have recently made changes to their positions in the stock. Artemis Investment Management LLP bought a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $7,143,000. Russell Investments Group Ltd. bought a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $5,355,000. ETRADE Capital Management LLC increased its stake in shares of Packaging Corp Of America by 12.0% in the third quarter. ETRADE Capital Management LLC now owns 31,999 shares of the industrial products company’s stock worth $2,601,000 after buying an additional 3,432 shares during the period. Sawtooth Solutions LLC increased its stake in shares of Packaging Corp Of America by 4.6% in the third quarter. Sawtooth Solutions LLC now owns 3,298 shares of the industrial products company’s stock worth $268,000 after buying an additional 146 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new stake in shares of Packaging Corp Of America during the third quarter worth approximately $1,529,000. Institutional investors own 85.38% of the company’s stock.

Packaging Corp 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PKG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

Related posts

Leave a Comment