Packaging Corp Of America (NYSE:PKG) had its price objective lowered by analysts at Citigroup from $124.00 to $98.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 11.30% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays reduced their price target on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 30th. BMO Capital Markets lowered shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $130.00 to $108.00 in a research report on Tuesday. ValuEngine raised shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Stephens reaffirmed a “buy” rating on shares of Packaging Corp Of America in a research report on Thursday, July 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $125.50.

NYSE PKG opened at $88.05 on Thursday. Packaging Corp Of America has a 52 week low of $86.98 and a 52 week high of $131.13. The stock has a market cap of $10.37 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.77. The company has a quick ratio of 1.67, a current ratio of 2.73 and a debt-to-equity ratio of 1.05.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Packaging Corp Of America will post 7.9 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Aviva PLC increased its holdings in Packaging Corp Of America by 1.0% in the 2nd quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock worth $5,244,000 after acquiring an additional 460 shares in the last quarter. ING Groep NV increased its holdings in Packaging Corp Of America by 4.8% in the 2nd quarter. ING Groep NV now owns 10,102 shares of the industrial products company’s stock worth $1,129,000 after acquiring an additional 461 shares in the last quarter. Bailard Inc. increased its holdings in Packaging Corp Of America by 1.7% in the 2nd quarter. Bailard Inc. now owns 28,506 shares of the industrial products company’s stock worth $3,187,000 after acquiring an additional 472 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Packaging Corp Of America by 14.9% in the 1st quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock worth $424,000 after acquiring an additional 490 shares in the last quarter. Finally, Carnick & Kubik Group LLC increased its holdings in Packaging Corp Of America by 4.8% in the 2nd quarter. Carnick & Kubik Group LLC now owns 10,878 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 494 shares in the last quarter. 87.16% 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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