Packaging Corp. of America (PKG) Trading 3.6% Higher
Packaging Corp. of America (NYSE:PKG)’s share price traded up 3.6% during mid-day trading on Thursday . The company traded as high as $79.16 and last traded at $78.77, with a volume of 952,181 shares traded. The stock had previously closed at $76.01.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Packaging Corp. of America from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, June 14th. Deutsche Bank AG increased their price target on Packaging Corp. of America from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. BMO Capital Markets reissued a “buy” rating on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Jefferies Group increased their price target on Packaging Corp. of America from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Finally, Barclays PLC increased their price target on Packaging Corp. of America from $71.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $73.58.
The firm has a market capitalization of $7.41 billion and a price-to-earnings ratio of 16.86. The firm 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 posted its earnings results on Thursday, July 21st. The company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.07. The business earned $1.42 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. Packaging Corp. of America’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts forecast that Packaging Corp. of America will post $4.78 EPS 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 on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total value of $81,730.00. Following the sale, the senior vice president now owns 34,623 shares in the company, valued at $2,572,488.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
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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