Packaging Corp. of America (NYSE:PKG) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Packaging Corp. of America from a “sell” rating to a “hold” rating and set a $83.00 price objective for the company in a research note on Friday, July 22nd. Argus reissued a “buy” rating and set a $84.00 price objective (up previously from $79.00) on shares of Packaging Corp. of America in a research note on Friday, September 2nd. Deutsche Bank AG raised Packaging Corp. of America from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, September 23rd. Credit Agricole SA increased their price objective on Packaging Corp. of America from $83.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Finally, Jefferies Group reissued a “buy” rating on shares of Packaging Corp. of America in a research note on Tuesday, August 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $82.54.

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

Shares of Packaging Corp. of America (NYSE:PKG) opened at 85.97 on Tuesday. The firm’s 50-day moving average is $81.33 and its 200-day moving average is $74.20. Packaging Corp. of America has a 52 week low of $44.32 and a 52 week high of $86.16. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 18.47 and a beta of 1.88.

Packaging Corp. of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.01. Packaging Corp. of America had a net margin of 7.77% and a return on equity of 27.24%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $559.20 million. During the same quarter in the previous year, the business earned $1.26 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts predict that Packaging Corp. of America will post $4.82 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Panagora Asset Management Inc. increased its position in shares of Packaging Corp. of America by 264.2% in the third quarter. Panagora Asset Management Inc. now owns 50,636 shares of the company’s stock valued at $4,115,000 after buying an additional 36,733 shares during the last quarter. Nuveen Fund Advisors LLC increased its position in shares of Packaging Corp. of America by 15.9% in the third quarter. Nuveen Fund Advisors LLC now owns 8,378 shares of the company’s stock valued at $681,000 after buying an additional 1,149 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Packaging Corp. of America during the third quarter valued at $14,623,000. Advantus Capital Management Inc increased its position in shares of Packaging Corp. of America by 0.9% in the third quarter. Advantus Capital Management Inc now owns 11,497 shares of the company’s stock valued at $934,000 after buying an additional 100 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of Packaging Corp. of America during the third quarter valued at $491,000. Hedge funds and other institutional investors own 87.04% of the company’s stock.

About Packaging Corp. of America

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

5 Day Chart for NYSE:PKG

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