The stock of Packaging Corp Of America (NYSE:PKG) hit a new 52-week high and has $121.25 target or 45.00% above today’s $83.62 share price. The 7 months bullish chart indicates low risk for the $8.00B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $121.25 price target is reached, the company will be worth $3.60 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 263,976 shares traded hands. Packaging Corp Of America (NYSE:PKG) has risen 49.88% since March 14, 2016 and is uptrending. It has outperformed by 44.27% the S&P500.
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 $125.33 million for 15.96 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. The rating was initiated by Goldman Sachs with “Sell” on Thursday, September 22. The firm earned “Overweight” rating on Friday, January 8 by Barclays Capital. The stock of Packaging Corp Of America (NYSE:PKG) earned “Underperform” rating by Macquarie Research on Monday, January 25. The rating was downgraded by Bank of America to “Neutral” on Tuesday, September 15. Barclays Capital maintained Packaging Corp Of America (NYSE:PKG) rating on Monday, October 26. Barclays Capital has “Equal Weight” rating and $67 price target. The rating was downgraded by Buckingham Research on Monday, July 18 to “Neutral”. The firm has “Buy” rating by Argus Research given on Monday, April 25. The rating was upgraded by BMO Capital Markets to “Outperform” on Thursday, July 23. Deutsche Bank maintained Packaging Corp Of America (NYSE:PKG) rating on Wednesday, August 10. Deutsche Bank has “Hold” rating and $77 price target. The stock has “Hold” rating given by Deutsche Bank on Friday, July 22.
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.
Essex Mgmt Com Lc owns 7,161 shares or 0.08% of their US portfolio. Moreover, Great West Life Assurance Can has 0.01% invested in Packaging Corp Of America (NYSE:PKG) for 37,587 shares. Capstone Asset Management, a Texas-based fund reported 10,678 shares. Gateway Inv Advisers Lc has invested 0.02% of its portfolio in Packaging Corp Of America (NYSE:PKG). Moreover, Susquehanna International Grp Inc Llp has 0% invested in Packaging Corp Of America (NYSE:PKG) for 33,200 shares. Sei Invs accumulated 0.01% or 35,827 shares. Liberty Inc last reported 19,190 shares in the company. Hotchkis Wiley Cap Management Ltd Company accumulated 0.25% or 875,622 shares. Americafirst Cap Ltd Liability reported 6,914 shares or 0% of all its holdings. Ahl Llp has 0.14% invested in the company for 38,839 shares. Moreover, Brandywine Mngmt Ltd Liability has 0.04% invested in Packaging Corp Of America (NYSE:PKG) for 98,475 shares. Assetmark, a California-based fund reported 2,881 shares. Comerica National Bank reported 162,653 shares or 0.11% of all its holdings. Shinko Asset has invested 0% of its portfolio in Packaging Corp Of America (NYSE:PKG). Bb&T Secs Ltd, a Virginia-based fund reported 10,313 shares.
Insider Transactions: Since April 22, 2016, the stock had 0 insider purchases, and 3 sales for $1.17 million net activity. 9,000 shares with value of $662,760 were sold by Walton Thomas W.H. on Friday, July 22. The insider Pflederer Kent A. sold 1,100 shares worth $81,730. Another trade for 6,463 shares valued at $424,167 was sold by Carter Charles J..
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, Therealdeal.com published: “Miami warehouses included in large industrial merger” on September 08, 2016. More interesting news about Packaging Corp Of America (NYSE:PKG) were released by: Benzinga.com and their article: “Containerboard Prices Set To Increase; Deutsche Boosts Rating On KapStone …” published on September 23, 2016 as well as Streetinsider.com‘s news article titled: “Packaging Corp. (PKG) to Acquire Columbus Container for $100M” with publication date: October 11, 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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