Citigroup Trims Packaging Co. of America (PKG) Target Price to $123.00

Packaging Co. of America (NYSE:PKG) had its price target reduced by Citigroup from $136.00 to $123.00 in a research report released on Thursday. They currently have a neutral rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on PKG. Zacks Investment Research cut Packaging Co. of America from a hold rating to a sell rating in a report on Tuesday, December 19th. ValuEngine upgraded Packaging Co. of America from a hold rating to a buy rating in a report on Sunday, December 31st. Wells Fargo reiterated a market perform rating and issued a $130.00 price objective (up from $115.00) on shares of Packaging Co. of America in a report on Monday, January 8th. Stephens set a $136.00 price objective on Packaging Co. of America and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, BMO Capital Markets reiterated a buy rating and issued a $130.00 price objective on shares of Packaging Co. of America in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $128.92.

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PKG stock opened at $110.14 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30. Packaging Co. of America has a 12-month low of $89.73 and a 12-month high of $131.13. The stock has a market capitalization of $10,676.63, a P/E ratio of 18.30, a PEG ratio of 1.78 and a beta of 1.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.05. Packaging Co. of America had a return on equity of 28.85% and a net margin of 10.37%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $1.23 EPS. Packaging Co. of America’s revenue was up 14.1% compared to the same quarter last year. analysts expect that Packaging Co. of America will post 7.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 41.86%.

Institutional investors have recently modified their holdings of the company. Field & Main Bank acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $168,000. Flagship Harbor Advisors LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $205,000. Dumont & Blake Investment Advisors LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $206,000. Conning Inc. acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $211,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 88.84% of the company’s stock.

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Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

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