KeyCorp reaffirmed their hold rating on shares of Packaging Corporation of America (NYSE:PKG) in a research report sent to investors on Thursday.

Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC restated a buy rating and set a $128.00 price target on shares of Packaging Corporation of America in a report on Friday, August 18th. BMO Capital Markets reaffirmed a buy rating and set a $118.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub raised shares of 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 set a $124.00 price objective (up from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Finally, 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 research report on Thursday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Packaging Corporation of America has an average rating of Buy and a consensus target price of $114.10.

Shares of Packaging Corporation of America (NYSE PKG) opened at 115.955 on Thursday. Packaging Corporation of America has a 12 month low of $78.03 and a 12 month high of $119.43. The company’s 50-day moving average is $115.18 and its 200-day moving average is $106.82. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 22.342 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 (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Packaging Corporation of America will post $6.04 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 15th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.18%. The ex-dividend date was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio is 48.56%.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank grew its position in 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 worth $129,000 after acquiring an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in 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 in the last quarter. Creative Planning grew its position in 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 in the last quarter. Atria Investments LLC bought a new stake in Packaging Corporation of America in the second quarter worth approximately $200,000. Finally, Perpetual Ltd bought a new stake in Packaging Corporation of America in the second quarter worth approximately $201,000. 88.06% of the stock is owned by institutional investors.

About Packaging Corporation of America

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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