Exclusive: A Reversal for Packaging Corp Of America Is Not Near. The Stock Declines Again

Exclusive: A Reversal for Packaging Corp Of America Is Not Near. The Stock Declines Again

The stock of Packaging Corp Of America (NYSE:PKG) is a huge mover today! The stock decreased 1.91% or $1.54 during the last trading session, hitting $79.29. About 1.23M shares traded hands or 50.66% up from the average. Packaging Corp Of America (NYSE:PKG) has risen 59.37% since March 2, 2016 and is uptrending. It has outperformed by 51.11% the S&P500.
The move comes after 7 months negative chart setup for the $7.45B company. It was reported on Oct, 6 by Barchart.com. We have $74.53 PT which if reached, will make NYSE:PKG worth $447.00 million less.

Analysts await Packaging Corp Of America (NYSE:PKG) to report earnings on October, 18. They expect $1.31 earnings per share, up 3.97% or $0.05 from last year’s $1.26 per share. PKG’s profit will be $123.09 million for 15.13 P/E if the $1.31 EPS becomes a reality. After $1.25 actual earnings per share reported by Packaging Corp Of America for the previous quarter, Wall Street now forecasts 4.80% EPS growth.

Packaging Corp Of America (NYSE:PKG) Ratings Coverage

Out of 11 analysts covering Packaging Corporation of America (NYSE:PKG), 4 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 36% are positive. Packaging Corporation of America has been the topic of 22 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Argus Research upgraded the shares of PKG in a report on Monday, April 25 to “Buy” rating. The firm earned “Hold” rating on Wednesday, August 10 by Deutsche Bank. The stock of Packaging Corp Of America (NYSE:PKG) has “Hold” rating given on Friday, July 22 by Deutsche Bank. The firm has “Neutral” rating given on Monday, July 18 by Buckingham Research. The stock of Packaging Corp Of America (NYSE:PKG) earned “Neutral” rating by Dundee Securities on Monday, April 11. The firm has “Neutral” rating by Bank of America given on Tuesday, September 15. Macquarie Research initiated Packaging Corp Of America (NYSE:PKG) on Tuesday, November 10 with “Neutral” rating. On Tuesday, July 19 the stock rating was maintained by Citigroup with “Neutral”. The rating was upgraded by Barclays Capital on Friday, January 8 to “Overweight”. The firm has “Equal Weight” rating by Barclays Capital given on Monday, October 26.

According to Zacks Investment Research, “Packaging Corp. of America is one of the largest producers of containerboard in the United States and also one of the largest manufacturers of corrugated packaging products. The company produces corrugated containers as well as the containerboard used to manufacture corrugated containers. Corrugated containers are the most commonly used type of paper packaging. Corrugated containers, referred to as cardboard boxes, are made by combining multiple layers of heavyweight paper known as containerboard and fabricating them into finished boxes.”

Insitutional Activity: The institutional sentiment increased to 1.36 in Q2 2016. Its up 0.21, from 1.15 in 2016Q1. The ratio increased, as 32 funds sold all Packaging Corp Of America shares owned while 119 reduced positions. 66 funds bought stakes while 140 increased positions. They now own 78.73 million shares or 5.59% less from 83.40 million shares in 2016Q1.
Moreover, Thompson Siegel And Walmsley Limited Liability Co has 0% invested in Packaging Corp Of America (NYSE:PKG) for 166 shares. Moreover, Fdx Advisors has 0.03% invested in Packaging Corp Of America (NYSE:PKG) for 8,791 shares. Eulav Asset has 24,200 shares for 0.09% of their US portfolio. Advisory Services Networks Limited Liability Company last reported 100 shares in the company. Amalgamated Fincl Bank last reported 0.07% of its portfolio in the stock. Ghp has 0.46% invested in the company for 32,203 shares. Etrade Capital Management Limited Co reported 28,567 shares or 0.1% of all its holdings. Morgan Dempsey Cap Mgmt Ltd owns 17 shares or 0% of their US portfolio. Nikko Asset Management Americas Inc last reported 0.07% of its portfolio in the stock. Parametric Associates Limited has 0.02% invested in the company for 203,892 shares. Victory Management accumulated 0.01% or 43,678 shares. Envestnet Asset last reported 52,865 shares in the company. State Treasurer State Of Michigan accumulated 0.02% or 37,800 shares. Daiwa Grp Inc owns 2,100 shares or 0% of their US portfolio. Commonwealth Equity reported 4,795 shares or 0% of all its holdings.

Insider Transactions: Since April 22, 2016, the stock had 0 insider purchases, and 3 selling transactions for $1.17 million net activity. $662,760 worth of Packaging Corp Of America (NYSE:PKG) was sold by Walton Thomas W.H. on Friday, July 22. Pflederer Kent A. sold 1,100 shares worth $81,730. $424,167 worth of Packaging Corp Of America (NYSE:PKG) was sold by Carter Charles J. on Friday, April 22.

More notable recent Packaging Corp Of America (NYSE:PKG) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Goldcorp, Packaging Corp of America and Eastman Chemical” on September 09, 2016, also Businesswire.com with their article: “Packaging Corporation of America Announces Agreement to Acquire TimBar Corporation” published on July 06, 2016, Benzinga.com published: “Containerboard Prices Set To Increase; Deutsche Boosts Rating On KapStone …” on September 23, 2016. More interesting news about Packaging Corp Of America (NYSE:PKG) were released by: Reuters.com and their article: “BRIEF-Packaging Corp of America announces 15 pct dividend increase” published on August 31, 2016 as well as Therealdeal.com‘s news article titled: “Miami warehouses included in large industrial merger” with publication date: September 08, 2016.

PKG Company Profile

Packaging Corporation of America (PCA), incorporated on January 25, 1999, is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Firm operates through three divisions: Packaging, Paper, and Corporate and Other. The Firm operates over eight mills and approximately 90 corrugated products manufacturing plants. It operates primarily in the United States and has converting and distribution activities in Canada.

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