Barclays Boosts Packaging Corp Of America (PKG) Price Target to $120.00
Packaging Corp Of America (NYSE:PKG) had its price objective raised by Barclays from $110.00 to $120.00 in a research note released on Monday. They currently have an equal weight rating on the industrial products company’s stock.
A number of other research analysts also recently weighed in on PKG. DA Davidson upgraded Packaging Corp Of America from a neutral rating to a buy rating in a report on Monday. Bank of America lifted their price target on Packaging Corp Of America from $134.00 to $138.00 and gave the company a buy rating in a report on Thursday, February 1st. BMO Capital Markets reiterated a buy rating and set a $130.00 price target on shares of Packaging Corp Of America in a report on Thursday, January 25th. Wells Fargo & Co lifted their price objective on Packaging Corp Of America from $130.00 to $150.00 and gave the company a market perform rating in a research report on Thursday, February 1st. Finally, KeyCorp reissued a hold rating on shares of Packaging Corp Of America in a research report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Packaging Corp Of America has an average rating of Buy and a consensus price target of $128.00.
Packaging Corp Of America (NYSE PKG) opened at $116.69 on Monday. Packaging Corp Of America has a twelve month low of $88.47 and a twelve month high of $131.13. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $10,733.31, a price-to-earnings ratio of 18.87, a PEG ratio of 1.81 and a beta of 1.84.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its position in Packaging Corp Of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 128 shares during the last quarter. Advantage Investment Management LLC acquired a new stake in Packaging Corp Of America during the third quarter valued at $137,000. Field & Main Bank acquired a new stake in Packaging Corp Of America during the fourth quarter valued at $168,000. Flagship Harbor Advisors LLC acquired a new stake in Packaging Corp Of America during the fourth quarter valued at $205,000. Finally, Conning Inc. acquired a new stake in Packaging Corp Of America during the fourth quarter valued at $211,000. 88.31% of the stock is owned by hedge funds and other institutional investors.
Packaging Corp 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.
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