Brokerage firm Barclays Downgrades its rating on Packaging Corp Of America(PKG). The shares have been rated Equal-Weight. Previously, the analysts had a Overweight rating on the shares. The rating by Barclays was issued on Feb 6, 2017.
In a different note, On Jan 25, 2017, BMO Capital said it Upgrades its rating on Packaging Corp Of America. The shares have been rated ‘Outperform’ by the firm.
Packaging Corp Of America (PKG) made into the market gainers list on Tuesdays trading session with the shares advancing 0.93% or 0.88 points. Due to strong positive momentum, the stock ended at $95.08, which is also near the day’s high of $96.54. The stock began the session at $94.14 and the volume stood at 11,19,534 shares. The 52-week high of the shares is $96.87 and the 52 week low is $44.32. The company has a current market capitalization of $8,959 M and it has 9,42,26,326 shares in outstanding.
Packaging Corp Of America(PKG) last announced its earnings results on Jan 30, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $1.477B. Analysts had an estimated revenue of $1.440B. Earnings per share were $1.23. Analysts had estimated an EPS of $1.16.
Several Insider Transactions has been reported to the SEC. On Jul 25, 2016, Thomas W.h. Walton (SVP) sold 9,000 shares at $73.64 per share price.Also, On Jul 25, 2016, Kent A. Pflederer (SVP) sold 1,100 shares at $74.30 per share price.On Apr 26, 2016, Charles J. Carter (SVP-Containerboard) sold 6,463 shares at $65.63 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.