StockNews.com Lowers Packaging Co. of America (NYSE:PKG) to Hold

Packaging Co. of America (NYSE:PKGGet Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

PKG has been the topic of a number of other reports. Citigroup increased their price objective on shares of Packaging Co. of America from $123.00 to $130.00 in a research note on Wednesday, January 4th. Bank of America downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating and dropped their target price for the company from $146.00 to $139.00 in a research report on Thursday, December 15th. Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $124.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, January 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Packaging Co. of America from $104.00 to $99.00 in a research report on Thursday, October 27th. Finally, BMO Capital Markets lowered their price target on shares of Packaging Co. of America from $155.00 to $130.00 in a report on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $135.22.

Packaging Co. of America Trading Up 2.1 %

Shares of PKG stock opened at $132.48 on Friday. Packaging Co. of America has a 12-month low of $110.56 and a 12-month high of $168.50. The company has a market capitalization of $12.26 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.98 and a beta of 0.86. The firm has a 50-day moving average price of $131.99 and a 200 day moving average price of $130.53. The company has a quick ratio of 1.99, a current ratio of 3.02 and a debt-to-equity ratio of 0.63.

Packaging Co. of America (NYSE:PKGGet Rating) last posted its quarterly earnings results on Monday, October 24th. The industrial products company reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.20 billion. Packaging Co. of America had a net margin of 12.09% and a return on equity of 28.32%. Packaging Co. of America’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 earnings per share. Research analysts forecast that Packaging Co. of America will post 11.02 earnings per share for the current fiscal year.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently made changes to their positions in PKG. Veriti Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $215,000. Hedeker Wealth LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $333,000. Naples Global Advisors LLC raised its stake in Packaging Co. of America by 1.3% during the 4th quarter. Naples Global Advisors LLC now owns 47,727 shares of the industrial products company’s stock valued at $6,164,000 after acquiring an additional 603 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Packaging Co. of America by 7.4% during the 4th quarter. Boston Trust Walden Corp now owns 288,137 shares of the industrial products company’s stock worth $36,856,000 after buying an additional 19,874 shares in the last quarter. Finally, Strategic Investment Advisors MI purchased a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $358,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Company Profile

(Get Rating)

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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