KeyBanc analyst Adam Josephson maintained a Hold rating on Packaging (PKG – Research Report) today. The company’s shares closed last Tuesday at $136.02.
According to TipRanks.com, Josephson is ranked 0 out of 5 stars with an average return of -6.6% and a 49.3% success rate. Josephson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, International Paper Co, and Berry Global Group.
Packaging has an analyst consensus of Hold, with a price target consensus of $137.75.
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Based on Packaging’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.88 billion and net profit of $207 million. In comparison, last year the company earned revenue of $1.54 billion and had a net profit of $56.7 million.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PKG in relation to earlier this year.
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Packaging Corp. of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers. The Corporate and Other segment focuses on transportation assets, as well as rail cars, and trucks. The company was founded in 1959 and is headquartered in Lake Forest, IL.
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