Dundee Downgrades Packaging Corp Of America to Neutral

Brokerage firm Dundee Downgrades its rating on Packaging Corp Of America(NYSE:PKG). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Dundee was issued on Apr 11, 2016.

In a different note, On Jan 27, 2016, Deutsche Bank said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Lowers the price-target to $70.00 per share. The shares have been rated ‘Buy’ by the firm. On Jan 27, 2016, Jefferies said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Lowers the price-target to $71.00 per share. The shares have been rated ‘Buy’ by the firm. On Jan 27, 2016, Macquarie said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Lowers the price-target to $43.00 per share. The shares have been rated ‘Underperform’ by the firm. On Jan 25, 2016, Citigroup said it Downgrades its rating on Packaging Corp Of America. The shares have been rated ‘Neutral’ by the firm. On Jan 25, 2016, Macquarie said it Downgrades its rating on Packaging Corp Of America. The shares have been rated ‘Underperform’ by the firm. On Jan 25, 2016, Jefferies said it Maintains its rating on Packaging Corp Of America. According to the research note, Jefferies Lowers the price target to $71 per share from a prior target of $79. The shares have been rated ‘Buy’ by the firm.

Packaging Corp Of America (PKG) made into the market gainers list on Fridays trading session with the shares advancing 1.76% or 1.08 points. Due to strong positive momentum, the stock ended at $62.27, which is also near the day’s high of $62.34. The stock began the session at $60.98 and the volume stood at 9,86,102 shares. The 52-week high of the shares is $77.59 and the 52 week low is $44.32. The company has a current market capitalization of $5,869 M and it has 9,42,51,749 shares in outstanding.

Packaging Corp Of America(PKG) last announced its earnings results on Jan 25, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.39B. Analysts had an estimated revenue of $1.43B. Earnings per share were $1.08. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Thomas P. Maurer (director) purchased 2,000 shares at $53.47 per share price.Also, On Nov 23, 2015, Mark W Kowlzan (CEO) sold 5,000 shares at $66.00 per share price.On Nov 16, 2015, Thomas A Hassfurther (Exec. VP) sold 4,668 shares at $65.32 per share price, according to the Form-4 filing with the securities and exchange commission.

Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Company’s operations are primarily in the United States and it has converting operations in Europe Mexico and Canada. The Company operates through three segments: Packaging Paper and Corporate and Other. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products including shipping containers used to protect and transport manufactured goods multi-color boxes and displays. It manufactures its Packaging products at five containerboard mills one containerboard machine corrugated manufacturing operations and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities and foreign exchange gains and losses.

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