Packaging Corporation of America (NYSE:PKG)‘s stock had its “hold” rating reiterated by investment analysts at KeyCorp in a report issued on Thursday.

Several other analysts also recently weighed in on PKG. BMO Capital Markets reaffirmed a “buy” rating and set a $118.00 price target on shares of Packaging Corporation of America in a research note on Friday, August 4th. Zacks Investment Research raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Thursday. Jefferies Group LLC reissued a “buy” rating and set a $128.00 price objective on shares of Packaging Corporation of America in a report on Friday, August 18th. BidaskClub raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $120.00 price objective (up from $94.00) on shares of Packaging Corporation of America in a report on Monday, October 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Packaging Corporation of America presently has a consensus rating of “Buy” and a consensus target price of $114.10.

Packaging Corporation of America (NYSE PKG) opened at 115.69 on Thursday. The stock has a market cap of $10.83 billion, a P/E ratio of 22.29 and a beta of 1.83. The firm’s 50 day moving average price is $115.04 and its 200-day moving average price is $106.58. Packaging Corporation of America has a 12-month low of $78.03 and a 12-month high of $119.43.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that Packaging Corporation of America will post $6.04 earnings per share for the current fiscal year.

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In other news, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its position in Packaging Corporation of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Packaging Corporation of America by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 665 shares during the period. Creative Planning lifted its position in Packaging Corporation of America by 7.9% during the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 123 shares during the period. Atria Investments LLC acquired a new position in Packaging Corporation of America during the second quarter valued at $200,000. Finally, Perpetual Ltd acquired a new position in Packaging Corporation of America during the second quarter valued at $201,000. Institutional investors own 88.18% of the company’s stock.

Packaging Corporation 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 Corporation of America (NYSE:PKG)

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