UBS Group assumed coverage on shares of Packaging Corp Of America (NYSE:PKG) in a research report report published on Wednesday morning, Benzinga reports. The firm issued a buy rating and a $109.00 target price on the industrial products company’s stock.
A number of other brokerages also recently commented on PKG. Bank of America restated a buy rating and issued a $112.00 target price (up previously from $105.00) on shares of Packaging Corp Of America in a research note on Friday, April 5th. ValuEngine downgraded Packaging Corp Of America from a hold rating to a sell rating in a research note on Wednesday, April 3rd. Zacks Investment Research downgraded Packaging Corp Of America from a hold rating to a sell rating in a research note on Wednesday, April 10th. Stephens downgraded Packaging Corp Of America from an overweight rating to an equal weight rating and set a $100.00 target price on the stock. in a research note on Friday, April 26th. Finally, KeyCorp restated a hold rating on shares of Packaging Corp Of America in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $102.64.
Shares of PKG traded up $0.92 during mid-day trading on Wednesday, reaching $97.95. The company had a trading volume of 3,243 shares, compared to its average volume of 878,828. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $124.70. The company has a quick ratio of 1.93, a current ratio of 3.05 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.36 and a beta of 1.77.
Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Packaging Corp Of America will post 8.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.23%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.
Several hedge funds have recently bought and sold shares of the company. CSat Investment Advisory L.P. grew its position in Packaging Corp Of America by 73.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 127 shares during the period. Citizens Financial Group Inc RI purchased a new position in Packaging Corp Of America in the first quarter worth approximately $32,000. Truewealth LLC purchased a new position in Packaging Corp Of America in the fourth quarter worth approximately $33,000. Capital Investment Advisory Services LLC purchased a new position in Packaging Corp Of America in the fourth quarter worth approximately $41,000. Finally, Aspire Private Capital LLC purchased a new position in Packaging Corp Of America in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 87.22% of the company’s stock.
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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