Packaging Corp Of America (PKG) Earns Hold Rating from KeyCorp

KeyCorp reiterated their hold rating on shares of Packaging Corp Of America (NYSE:PKG) in a report released on Friday morning.

“We are reducing our 2018 and 2019 EBITDA estimates following the Company’s 1Q18 guidance, but increasing our EPS estimates to reflect tax benefits.”,” the firm’s analyst commented.

Several other equities research analysts also recently weighed in on PKG. DA Davidson raised their target price on shares of Packaging Corp Of America to $135.00 and gave the company a positive rating in a research note on Thursday, February 1st. Wells Fargo & Co raised their target price on shares of Packaging Corp Of America from $130.00 to $150.00 and gave the company a market perform rating in a research note on Thursday, February 1st. Barclays raised their target price on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an equal weight rating in a research note on Monday, October 30th. Bank of America raised their target price on shares of Packaging Corp Of America from $134.00 to $138.00 and gave the company a buy rating in a research note on Thursday, February 1st. Finally, Stephens initiated coverage on shares of Packaging Corp Of America in a research note on Tuesday, October 24th. They issued an overweight rating and a $130.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $127.17.

Packaging Corp Of America (PKG) opened at $117.13 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. Packaging Corp Of America has a one year low of $88.47 and a one year high of $131.13. The stock has a market cap of $11,614.55, a P/E ratio of 16.57, a PEG ratio of 2.05 and a beta of 1.84.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.05. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 30.48%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. analysts predict that Packaging Corp Of America will post 7.2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, December 26th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. Packaging Corp Of America’s dividend payout ratio is currently 35.64%.

Several hedge funds and other institutional investors have recently bought and sold shares of PKG. Victory Capital Management Inc. raised its holdings in shares of Packaging Corp Of America by 7,416.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,383,784 shares of the industrial products company’s stock worth $166,815,000 after buying an additional 1,365,373 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Packaging Corp Of America by 6,234.6% in the second quarter. Janus Henderson Group PLC now owns 597,731 shares of the industrial products company’s stock worth $66,587,000 after buying an additional 588,295 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Packaging Corp Of America by 76.4% in the third quarter. APG Asset Management N.V. now owns 974,228 shares of the industrial products company’s stock worth $111,724,000 after buying an additional 422,100 shares during the last quarter. FMR LLC raised its holdings in shares of Packaging Corp Of America by 41.9% in the second quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock worth $153,902,000 after buying an additional 407,702 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Packaging Corp Of America by 17.9% in the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock worth $240,839,000 after buying an additional 319,452 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

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Packaging Corp Of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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

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