.png "Packaging Corp (NYSE: PKG)")
In a report released today, Adam Josephson from KeyBanc maintained a Hold rating on Packaging Corp (NYSE: PKG). The company’s shares opened today at $89.02, close to its 52-week low of $83.54.
Josephson said:
“We are slightly increasing our 2018 adj. EPS estimate from $7.93 to $8.04 (consensus was $7.92), though slightly reducing our 2019 estimate from $8.78 to $8.65 (consensus was the same heading into earnings). Our 2018 estimate is increasing to reflect better- than-expected results in PKG’s uncoated freesheet business, while our 2019 estimate is coming down to reflect our continued concerns about the sustainability of current containerboard industry conditions. Regarding the latter, we think we’re at the peak of the global economic cycle, not to mention the fact that substantial containerboard supply is scheduled to hit the market in the coming months and years as we’ve noted on numerous occasions.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.9% and a 66.2% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Currently, the analyst consensus on Packaging Corp is a Moderate Buy with an average price target of $105.60, representing a 18.6% upside. In a report issued on October 11, Citigroup also maintained a Hold rating on the stock with a $98 price target.
.
See today’s analyst top recommended stocks >>
Packaging Corp’s market cap is currently $7.91B and has a P/E ratio of 10.80. The company has a Price to Book ratio of 3.31.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
