Deutsche Bank Upgrades Packaging Corp Of America to Buy

Brokerage firm Deutsche Bank Upgrades its rating on Packaging Corp Of America(NYSE:PKG). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Deutsche Bank was issued on Sep 23, 2016.

In a different note, Goldman Sachs said it Initiates Coverage on Packaging Corp Of America, according to a research note issued on Sep 22, 2016. The shares have been rated ‘Sell’ by the firm. On Sep 6, 2016, CLSA said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Raises the price-target to $83.00 per share. The shares have been rated ‘Buy’ by the firm. On Sep 1, 2016, Citigroup said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Raises the price-target to $76.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 31, 2016, Citigroup said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Raises the price-target to $76.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 10, 2016, Deutsche Bank said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Raises the price-target to $75.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 25, 2016, Barclays said it Maintains its rating on Packaging Corp Of America. In the research note, the firm Raises the price-target to $71.00 per share. The shares have been rated ‘Overweight’ by the firm.

Packaging Corp Of America (PKG) shares turned negative on Tuesdays trading session with the shares closing down -1.22 points or -1.49% at a volume of 11,43,196. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $82. The peak price level was also seen at $82 while the days lowest was $80.11. Finally the shares closed at $80.76. The 52-week high of the shares is $82.77 while the 52-week low is $44.32. According to the latest information available, the market cap of the company is $7,610 M.

Packaging Corp Of America(PKG) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.42B. Analysts had an estimated revenue of $1.46B. Earnings per share were $1.25. Analysts had estimated an EPS of $1.18.

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 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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