Packaging Corp Of America (PKG) was Reiterated by Deutsche Bank to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 68 from a previous price target of $62 . Deutsche Bank advised their investors in a research report released on Apr 11, 2016.
Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Downgraded by Macquarie to ” Underperform” on Jan 25, 2016. Packaging Corp Of America was Downgraded by Citigroup to ” Neutral” on Jan 25, 2016.
On the company’s financial health, Packaging Corp Of America reported $1.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Oct 20, 2015. Analyst had a consensus of $1.28. The company had revenue of $1470.80 million for the quarter, compared to analysts expectations of $1499.90 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.26 EPS.
Packaging Corp Of America closed down -0.12 points or -0.20% at $60.06 with 6,96,190 shares getting traded on Monday. Post opening the session at $60.12, the shares hit an intraday low of $59.665 and an intraday high of $60.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 9, 2016, Thomas P. Maurer (director) purchased 2,000 shares at $53.47 per share price. According to the SEC, 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 Companys 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 Companys 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.