Seaport Global Securities Downgrades Packaging Corp Of America (NYSE:PKG) to Neutral

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Packaging Corp Of America (NYSE:PKG) was downgraded by equities researchers at Seaport Global Securities from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $98.02 target price on the industrial products company’s stock. Seaport Global Securities’ price target would indicate a potential downside of 1.34% from the stock’s previous close. The analysts noted that the move was a valuation call.

PKG has been the subject of a number of other research reports. Stephens set a $100.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, April 26th. Bank of America lowered Propetro from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research note on Thursday, April 25th. UBS Group reaffirmed a “sell” rating on shares of in a research note on Monday, June 24th. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Packaging Corp Of America currently has a consensus rating of “Hold” and an average price target of $101.09.

Shares of PKG opened at $99.35 on Friday. The stock has a market capitalization of $9.35 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.72. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.93 and a current ratio of 3.05. The stock has a 50-day moving average of $94.77. Packaging Corp Of America has a 52 week low of $77.90 and a 52 week high of $118.88.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 earnings per share. Equities research analysts forecast that Packaging Corp Of America will post 8.12 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. CSat Investment Advisory L.P. boosted its stake in Packaging Corp Of America by 73.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Citizens Financial Group Inc RI bought a new position in Packaging Corp Of America during the first quarter valued at approximately $32,000. Horan Capital Advisors LLC. bought a new position in Packaging Corp Of America during the first quarter valued at approximately $41,000. Aspire Private Capital LLC bought a new position in Packaging Corp Of America during the fourth quarter valued at approximately $41,000. Finally, Cullen Frost Bankers Inc. bought a new position in Packaging Corp Of America during the first quarter valued at approximately $52,000. 88.82% of the stock is owned by institutional investors.

About Packaging Corp Of America

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.

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Analyst Recommendations for Packaging Corp Of America (NYSE:PKG)

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