Stock of the Day: A Reversal for Packaging Corp Of America Is Not Near. The Stock Rises Again

Stock of the Day: A Reversal for Packaging Corp Of America Is Not Near. The Stock Rises Again

The stock of Packaging Corp Of America (NYSE:PKG) is a huge mover today! About 454,889 shares traded hands. Packaging Corp Of America (NYSE:PKG) has risen 51.20% since March 3, 2016 and is uptrending. It has outperformed by 42.86% the S&P500.
The move comes after 5 months positive chart setup for the $7.52 billion company. It was reported on Oct, 6 by Barchart.com. We have $114.69 PT which if reached, will make NYSE:PKG worth $3.08B more.

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 $121.11M for 15.52 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. As per Monday, April 25, the company rating was upgraded by Argus Research. The company was downgraded on Monday, January 25 by Macquarie Research. As per Monday, October 26, the company rating was maintained by Barclays Capital. As per Thursday, July 14, the company rating was maintained by Jefferies. Bank of America downgraded the shares of PKG in a report on Tuesday, September 15 to “Neutral” rating. The firm earned “Outperform” rating on Thursday, July 23 by BMO Capital Markets. The rating was downgraded by Citigroup to “Neutral” on Monday, January 25. The stock has “Neutral” rating given by Buckingham Research on Monday, July 18. The firm has “Hold” rating given on Wednesday, August 10 by Deutsche Bank. The stock has “Neutral” rating given by Citigroup on Tuesday, July 19.

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 is positive, 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, Mizuho Banking Ltd has 0.03% invested in Packaging Corp Of America (NYSE:PKG) for 153,342 shares. Strs Ohio accumulated 2,181 shares or 0% of the stock. Oppenheimer Commerce holds 0.01% of its portfolio in Packaging Corp Of America (NYSE:PKG) for 4,862 shares. Moreover, Rhumbline Advisers has 0.04% invested in Packaging Corp Of America (NYSE:PKG) for 183,423 shares. First Corporation In has 0.02% invested in the company for 500 shares. Axa owns 133,000 shares or 0.04% of their US portfolio. Tci Wealth holds 409 shares or 0.01% of its portfolio. Gotham Asset Limited Liability has invested 0.41% of its portfolio in Packaging Corp Of America (NYSE:PKG). Lsv Asset Management last reported 2.84 million shares in the company. Credit Suisse Ag holds 0.01% of its portfolio in Packaging Corp Of America (NYSE:PKG) for 168,615 shares. Kcg Inc has invested 0.03% of its portfolio in Packaging Corp Of America (NYSE:PKG). Johnson Invest Counsel accumulated 0.02% or 10,200 shares. Hutchin Hill Limited Partnership last reported 20,700 shares in the company. Mufg Americas Corp accumulated 781 shares or 0% of the stock. Point72 Asia (Hong Kong) Ltd owns 100 shares or 0.01% of their US portfolio.

Insider Transactions: Since April 22, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.17 million net activity. The insider Walton Thomas W.H. sold 9,000 shares worth $662,760. 1,100 shares with value of $81,730 were sold by Pflederer Kent A. on Friday, July 22. Another trade for 6,463 shares valued at $424,167 was made 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: Businesswire.com and their article: “Packaging Corporation of America Reports Second Quarter 2016 Results” published on July 20, 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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