Packaging Corp. of America (PKG) Hits New 52-Week High at $80.25
Packaging Corp. of America (NYSE:PKG)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $80.25 and last traded at $79.70, with a volume of 768,938 shares changing hands. The stock had previously closed at $78.69.
Several equities analysts have commented on the stock. Jefferies Group reissued a “buy” rating on shares of Packaging Corp. of America in a research note on Tuesday, August 23rd. Deutsche Bank AG lifted their price objective on shares of Packaging Corp. of America from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Barclays PLC lifted their price objective on shares of Packaging Corp. of America from $71.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, July 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Packaging Corp. of America in a research note on Friday, July 22nd. Finally, Zacks Investment Research raised shares of Packaging Corp. of America from a “sell” rating to a “hold” rating and set a $83.00 price objective on the stock in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.58.
The company has a market capitalization of $7.41 billion and a price-to-earnings ratio of 16.86. The company has a 50 day moving average of $74.84 and a 200-day moving average of $64.54.
Packaging Corp. of America (NYSE:PKG) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.07. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $1.18 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts anticipate that Packaging Corp. of America will post $4.78 EPS for the current year.
In related news, SVP Kent A. Pflederer sold 1,100 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $74.30, for a total transaction of $81,730.00. Following the transaction, the senior vice president now owns 34,623 shares in the company, valued at approximately $2,572,488.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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.