Packaging Corp Of America (PKG) – Analysts’ Recent Ratings Updates

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Packaging Corp Of America (NYSE: PKG) has recently received a number of price target changes and ratings updates:

  • 10/31/2018 – Packaging Corp Of America was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 10/29/2018 – Packaging Corp Of America was given a new $120.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.
  • 10/29/2018 – Packaging Corp Of America had its price target lowered by analysts at Barclays PLC from $100.00 to $95.00. They now have an “equal weight” rating on the stock.
  • 10/26/2018 – Packaging Corp Of America had its price target lowered by analysts at Wells Fargo & Co from $140.00 to $110.00. They now have an “outperform” rating on the stock.
  • 10/26/2018 – Packaging Corp Of America had its price target lowered by analysts at Argus from $130.00 to $105.00. They now have a “buy” rating on the stock.
  • 10/25/2018 – Packaging Corp Of America had its “hold” rating reaffirmed by analysts at KeyCorp. They wrote, “We are slightly increasing our 2018 adj. EPS estimate from $7.93 to $8.04 (consensus was $7.92), though slightly reducing our 2019 estimate from $8.78 to $8.65 (consensus was the same heading into earnings). Our 2018 estimate is increasing to reflect better- than-expected results in PKG’s uncoated freesheet business, while our 2019 estimate is coming down to reflect our continued concerns about the sustainability of current containerboard industry conditions. Regarding the latter, we think we’re at the peak of the global economic cycle, not to mention the fact that substantial containerboard supply is scheduled to hit the market in the coming months and years as we’ve noted on numerous occasions.””
  • 10/23/2018 – Packaging Corp Of America is now covered by analysts at Seaport Global Securities. They set a “buy” rating and a $112.00 price target on the stock.
  • 10/11/2018 – Packaging Corp Of America had its price target lowered by analysts at Citigroup Inc from $124.00 to $98.00. They now have a “neutral” rating on the stock.
  • 10/9/2018 – Packaging Corp Of America was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 10/9/2018 – Packaging Corp Of America was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $108.00 price target on the stock, down previously from $130.00.
  • 9/26/2018 – Packaging Corp Of America was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Packaging Corporation's results will be impacted by the prevailing inflation. Majority of operating costs, including higher recycled fiber prices and incremental wage pressure with a tighter labor market will hurt margins. Also, increased freight, logistic expenses and higher maintenance outage costs remain headwinds. Its estimates have been going down over the past 60 days. Moreover, the stock has underperformed the industry it belongs to in a year’s time.”

Shares of PKG traded up $0.13 during midday trading on Tuesday, reaching $96.57. 1,212,043 shares of the stock were exchanged, compared to its average volume of 854,045. Packaging Corp Of America has a 12-month low of $83.54 and a 12-month 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. The company has a market capitalization of $8.97 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.82.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 30.77% and a net margin of 11.54%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, equities research analysts expect that Packaging Corp Of America will post 8.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 14th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, September 13th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 52.49%.

Several institutional investors and hedge funds have recently bought and sold shares of PKG. Aviva PLC increased its holdings in shares of 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 acquiring an additional 460 shares during the last quarter. ING Groep NV increased its holdings in shares of 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 acquiring an additional 461 shares during the last quarter. Bailard Inc. increased its holdings in shares of 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 acquiring an additional 472 shares during the last quarter. Suntrust Banks Inc. increased its holdings in shares of 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 acquiring an additional 490 shares during the last quarter. Finally, Carnick & Kubik Group LLC increased its holdings in shares of 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 acquiring an additional 494 shares during the last quarter. 86.73% of the stock is owned by institutional investors.

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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