Packaging Co. of America (NYSE:PKG) PT Raised to $126.00 at Morgan Stanley

Packaging Co. of America (NYSE:PKG) had its price objective lifted by equities researchers at Morgan Stanley from $111.00 to $126.00 in a research note issued to investors on Tuesday, AnalystRatings.net reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential downside of 12.29% from the stock’s current price.

A number of other research firms also recently issued reports on PKG. KeyCorp raised Packaging Co. of America from an “underweight” rating to a “sector weight” rating in a research report on Monday, December 7th. Wells Fargo & Company raised their price target on Packaging Co. of America from $115.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday. BMO Capital Markets lowered Packaging Co. of America from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $144.00 to $134.00 in a report on Tuesday. Bank of America raised their price target on Packaging Co. of America from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Finally, Argus raised their price target on Packaging Co. of America from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, January 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $127.27.

NYSE:PKG opened at $143.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.89 and a quick ratio of 2.67. The business has a fifty day simple moving average of $136.46 and a two-hundred day simple moving average of $115.44. Packaging Co. of America has a 1 year low of $71.05 and a 1 year high of $148.14. The company has a market capitalization of $13.62 billion, a P/E ratio of 26.60, a P/E/G ratio of 4.42 and a beta of 1.12.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Saturday, October 31st. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.16. Packaging Co. of America had a return on equity of 19.99% and a net margin of 7.65%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.92 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, analysts anticipate that Packaging Co. of America will post 5.31 earnings per share for the current year.

In related news, SVP Bruce A. Ridley sold 2,516 shares of Packaging Co. of America stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $117.64, for a total transaction of $295,982.24. Following the completion of the sale, the senior vice president now owns 15,674 shares of the company’s stock, valued at $1,843,889.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Andrew Schneider sold 15,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 24th. The shares were sold at an average price of $134.22, for a total value of $2,013,300.00. Following the sale, the senior vice president now directly owns 32,024 shares of the company’s stock, valued at approximately $4,298,261.28. The disclosure for this sale can be found here. Insiders have sold 48,516 shares of company stock valued at $6,194,032 in the last three months. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. IFM Investors Pty Ltd lifted its stake in Packaging Co. of America by 22.2% during the fourth quarter. IFM Investors Pty Ltd now owns 8,942 shares of the industrial products company’s stock worth $1,233,000 after purchasing an additional 1,622 shares during the last quarter. Shulman DeMeo Asset Management LLC bought a new stake in Packaging Co. of America during the fourth quarter worth about $201,000. First Hawaiian Bank bought a new stake in Packaging Co. of America during the fourth quarter worth about $206,000. Cypress Capital Group lifted its stake in Packaging Co. of America by 2.0% during the fourth quarter. Cypress Capital Group now owns 6,071 shares of the industrial products company’s stock worth $837,000 after purchasing an additional 118 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Packaging Co. of America by 22.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 5,900 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 1,100 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Analyst Recommendations for Packaging Co. of America (NYSE:PKG)

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