Packaging Corp (NYSE:PKG) has been upgraded from Neutral to Buy in a statement by BofA Merrill earlier today.
- Updated: October 18, 2016
Boasting a price of $83.33, Packaging Corp (NYSE:PKG) traded 0.53% higher on the day. With the last stock price close up 16.86% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Packaging Corp has recorded a 50-day average of $80.57 and a two hundred day average of $71.68. Volume of trade was up over the average, with 1,547,975 shares of PKG changing hands over the typical 786,749
BofA Merrill has upgraded Packaging Corp (NYSE:PKG) from Neutral to Buy in a statement released on 10/18/2016.
With a total market value of $0, Packaging Corp has price-earnings ratio of 17.80 with a one year low of $44.32 and a one year high of $85.40 .
A total of 13 equity analysts have released a ratings update on PKG. Five equity analysts rating the company a strong buy, four equity analysts rating the company a buy, five equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $67.46.
Brief Synopsis About Packaging Corp (NYSE:PKG)
Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants. It operates primarily in the United States and has converting and distribution operations in Canada. The Company's corrugated products manufacturing plants produce a range of corrugated packaging products, including conventional shipping containers used to protect and transport manufactured goods, multi-color boxes, and displays. Its Paper segment operates under the trade name Boise Paper. The Company manufactures and sells white papers, including both commodity and specialty papers. The Company's Corporate and Other segment includes corporate support staff services, related assets and liabilities, and foreign exchange gains and losses.
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