Packaging Corp (NYSE:PKG) Rating Increased

In a research report issued to clients and investors on Wednesday, 31 January, equity analysts at Wells Fargo’s equity division boosted Packaging Corp (NYSE:PKG)’s stock from “Market Perform” to “Outperform”.

According to data compiled by Thomson Reuters, Packaging Corp (NYSE:PKG)’s stock is covered by 13 equity analysts across the Street, with 1 analysts giving it a Sell rating, 9 a Buy rating, while 5 consider it a Hold. The 12-month consensus target price for the stock is $67.46, which reflects an downside potential of 42.97% over the current price.

Institutional Ownership

Chapter Iv Investors Llc had the largest stake with ownership of 600,000 shares as of Q2 2015 for 16.14% of the fund portfolio. 12Th Street Asset Management Company Llc is another notably bullish fund who is possessing 229,087 shares of Packaging Corp or 7.06% of their fund portfolio. Furthermore, Capital Innovations Llc have 3.77% of their fund portfolio invested in the company for 18,529 shares. The Pennsylvania-based fund Rockshelter Capital Management Llc revealed it had purchased a stake worth about 3.25% of the fund’s stock portfolio in Packaging Corp. The California-based fund Santa Barbara Asset Management Llc is also positive about the stock, possessing 114,110 shares or 2.4% of their fund portfolio.

Packaging Corp (NYSE:PKG) Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products.

Packaging Corp (NYSE:PKG) traded up 0.13% on 31 January, hitting $118.29. A total of 167,665 shares of the company’s stock traded hands. This is down from average of 796,546 shares. Packaging Corp has a 52 week low of $78.03 and a 52 week high of $119.57. The company has a market cap of $11.16 billion and a P/E ratio of 22.77.

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