Packaging Corp. of America (NYSE:PKG) shares were up 3.6% during mid-day trading on Thursday . The stock traded as high as $79.16 and last traded at $78.77, with a volume of 952,181 shares. The stock had previously closed at $76.01.

Several research analysts have issued reports on PKG shares. Zacks Investment Research cut shares of Packaging Corp. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Deutsche Bank AG reiterated a “buy” rating on shares of Packaging Corp. of America in a report on Wednesday, May 18th. Jefferies Group reiterated a “buy” rating on shares of Packaging Corp. of America in a report on Tuesday. Citigroup Inc. reissued a “neutral” rating and set a $69.00 price target on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Finally, Wells Fargo & Co. lowered shares of Packaging Corp. of America to a “market weight” rating in a research report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $73.58.

The firm has a 50-day moving average of $74.54 and a 200 day moving average of $64.33. The firm has a market cap of $7.35 billion and a P/E ratio of 16.72.

Packaging Corp. of America (NYSE:PKG) last released its earnings results on Thursday, July 21st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm earned $1.42 billion during the quarter, compared to analyst estimates of $1.46 billion. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. Analysts expect that Packaging Corp. of America will post $4.78 earnings per share for the current year.

In other Packaging Corp. of America news, SVP Kent A. Pflederer sold 1,100 shares of Packaging Corp. of America stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $74.30, for a total value of $81,730.00. Following the completion of the transaction, the senior vice president now directly owns 34,623 shares of the company’s stock, valued at approximately $2,572,488.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

A hedge fund recently raised its stake in Packaging Corp. of America stock. I.G. Investment Management LTD. boosted its stake in shares of Packaging Corp. of America (NYSE:PKG) by 180.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,598 shares of the company’s stock after buying an additional 152,933 shares during the period. I.G. Investment Management LTD. owned about 0.25% of Packaging Corp. of America worth $14,981,000 as of its most recent filing with the SEC.

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

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