Packaging Corporation of America (NYSE:PKG) has been assigned an average recommendation of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $109.22.

PKG has been the topic of several analyst reports. BMO Capital Markets reissued a “buy” rating and set a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $128.00 target price on shares of Packaging Corporation of America in a report on Friday, August 18th. BidaskClub raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Vertical Research reaffirmed a “buy” rating and issued a $124.00 price target (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th.

Shares of Packaging Corporation of America (NYSE PKG) traded up 0.05% during mid-day trading on Wednesday, reaching $117.33. 655,706 shares of the company’s stock traded hands. Packaging Corporation of America has a 1-year low of $78.03 and a 1-year high of $119.43. The firm has a 50-day moving average price of $113.41 and a 200-day moving average price of $105.36. The company has a market capitalization of $10.99 billion, a P/E ratio of 22.61 and a beta of 1.83.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. Packaging Corporation of America’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts forecast that Packaging Corporation of America will post $6.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.52 annualized dividend and a yield of 2.15%. Packaging Corporation of America’s payout ratio is 48.56%.

ILLEGAL ACTIVITY NOTICE: “Packaging Corporation of America (PKG) Given Average Recommendation of “Hold” by Analysts” was first published by Marea Informative and is owned by of Marea Informative. If you are reading this piece on another site, it was stolen and reposted in violation of international copyright legislation. The legal version of this piece can be viewed at http://www.mareainformativa.com/packaging-corporation-of-america-pkg-given-average-recommendation-of-hold-by-analysts/115962/.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the transaction, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Packaging Corporation of America by 12.4% in the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Packaging Corporation of America by 84.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 665 shares during the last quarter. Creative Planning grew its stake in shares of Packaging Corporation of America by 7.9% in the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 123 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Packaging Corporation of America in the second quarter worth $200,000. Finally, Perpetual Ltd acquired a new stake in shares of Packaging Corporation of America in the second quarter worth $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)

Receive News & Stock Ratings for Packaging Corporation of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corporation of America and related stocks with our FREE daily email newsletter.