Packaging Corp Of America (NYSE:PKG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Packaging Corporation’s fourth-quarter 2017 earnings will bear the impact of elevated annual outage costs. Escalating wood and energy costs, higher prices for certain key chemicals and rising freight costs also remain headwinds. The company also stated that e-commerce clearly has an impact in OCC collection. Further, the fourth quarter will witness seasonally lower volumes as well as a seasonally less rich mix in corrugated products. Moreover, Packaging Corporation underperformed the industry it belongs to over the past three months.”

A number of other research analysts have also recently issued reports on the company. Barclays lifted their price objective on Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a report on Sunday, October 29th. Stephens assumed coverage on Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price objective for the company. Deutsche Bank reissued a “hold” rating and set a $120.00 price objective (up from $94.00) on shares of Packaging Corp Of America in a report on Monday, October 9th. Finally, Vertical Research reissued a “buy” rating and set a $124.00 price objective (up from $118.00) on shares of Packaging Corp Of America in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Packaging Corp Of America currently has an average rating of “Hold” and a consensus price target of $117.36.

Shares of Packaging Corp Of America (PKG) opened at $119.74 on Tuesday. Packaging Corp Of America has a 52 week low of $84.01 and a 52 week high of $120.75. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. The firm has a market cap of $11,212.61, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share. equities analysts forecast that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.

In related news, SVP Charles J. Carter sold 6,150 shares of Packaging Corp Of America stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $117.04, for a total value of $719,796.00. Following the completion of the transaction, the senior vice president now directly owns 24,265 shares of the company’s stock, valued at $2,839,975.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas W.H. Walton sold 6,027 shares of Packaging Corp Of America stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the transaction, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at $3,796,943.50. The disclosure for this sale can be found here. Insiders sold 67,177 shares of company stock valued at $1,427,532 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PKG. Schwab Charles Investment Management Inc. raised its holdings in shares of Packaging Corp Of America by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 446,796 shares of the industrial products company’s stock valued at $49,769,000 after buying an additional 20,985 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Packaging Corp Of America by 40.6% in the second quarter. Advisors Asset Management Inc. now owns 20,706 shares of the industrial products company’s stock valued at $2,306,000 after buying an additional 5,975 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in Packaging Corp Of America by 36.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 86,452 shares of the industrial products company’s stock worth $9,630,000 after purchasing an additional 23,200 shares during the last quarter. Legal & General Group Plc raised its holdings in Packaging Corp Of America by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 189,904 shares of the industrial products company’s stock worth $21,153,000 after purchasing an additional 10,277 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Packaging Corp Of America by 0.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 140,501 shares of the industrial products company’s stock worth $15,650,000 after purchasing an additional 1,180 shares during the last quarter. 89.96% 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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