ValuEngine lowered shares of Packaging Corp Of America (NYSE:PKG) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday.

Several other research firms have also recently issued reports on PKG. Zacks Investment Research cut Packaging Corp Of America from a hold rating to a sell rating in a report on Wednesday, September 26th. Stephens reaffirmed a buy rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. Wells Fargo & Co dropped their price target on Packaging Corp Of America from $150.00 to $140.00 and set a market perform rating on the stock in a report on Friday, July 27th. Barclays dropped their price target on Packaging Corp Of America from $125.00 to $120.00 and set an equal weight rating on the stock in a report on Monday, July 30th. Finally, Citigroup upped their price target on Packaging Corp Of America from $121.00 to $124.00 and gave the company a neutral rating in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $125.50.

PKG opened at $88.05 on Tuesday. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.67 and a beta of 1.77. Packaging Corp Of America has a 1-year low of $86.98 and a 1-year high of $131.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.73 and a quick ratio of 1.67.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.11. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. On average, analysts predict that Packaging Corp Of America will post 7.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be issued a $0.79 dividend. The ex-dividend date is Thursday, September 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.59%. Packaging Corp Of America’s dividend payout ratio is currently 52.49%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aviva PLC raised its stake in Packaging Corp Of America by 1.0% during the 2nd quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock valued at $5,244,000 after purchasing an additional 460 shares during the period. ING Groep NV raised its stake in Packaging Corp Of America by 4.8% during the 2nd quarter. ING Groep NV now owns 10,102 shares of the industrial products company’s stock valued at $1,129,000 after purchasing an additional 461 shares during the period. Bailard Inc. raised its stake in Packaging Corp Of America by 1.7% during the 2nd quarter. Bailard Inc. now owns 28,506 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 472 shares during the period. Suntrust Banks Inc. raised its stake in Packaging Corp Of America by 14.9% during the 1st quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 490 shares during the period. Finally, Carnick & Kubik Group LLC raised its stake in Packaging Corp Of America by 4.8% during the 2nd quarter. Carnick & Kubik Group LLC now owns 10,878 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 494 shares during the period. 87.16% of the stock is currently owned by institutional investors.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Analyst Recommendations for Packaging Corp Of America (NYSE:PKG)

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