Analyst Price Target Update on Packaging Corporation of America (NYSE:PKG)

Packaging Corporation of America (NYSE:PKG): The mean estimate for the short term price target for Packaging Corporation of America (NYSE:PKG) stands at $72.33 according to 9 Analysts. The higher price target estimate for the stock has been calculated at $76 while the lower price target estimate is at $65.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Argus Research upgrades the rating on Packaging Corporation of America (NYSE:PKG). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Hold. The Analysts at the ratings agency raises the price target to $73 per share. The rating by the firm was issued on April 25, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The officer (SVP-Containerboard), of Packaging Corp Of America, Carter Charles J. had unloaded 6,463 shares at $65.63 per share in a transaction on April 22, 2016. The total value of transaction was $424,167. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Packaging Corporation of America (NYSE:PKG) stock ended Monday session in the red zone in a volatile trading. The stock closed down 2.54 points or 3.7% at $66.02 with 1,537,843 shares getting traded. Post opening the session at $68.38, the shares hit an intraday low of $65.92 and an intraday high of $68.55 and the price was in this range throughout the day. The company has a market cap of $6,213 million and the number of outstanding shares have been calculated to be 94,111,081 shares. The 52-week high of Packaging Corporation of America (NYSE:PKG) is $73.595 and the 52-week low is $44.32.

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.

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