Packaging Co. of America Downgraded to Underperform at Credit Agricole (PKG)

Posted by: Ghasem Abdullahian Posted date: March 18, 2013 In: Analyst Articles - US, Investing

Packaging Co. of America (NYSE: PKG) was downgraded by analysts at Credit Agricole from an “outperform” rating to an “underperform” rating in a research report issued to clients and investors on Monday.

PKG has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets raised their price target on shares of Packaging Co. of America from $42.00 to $43.00 in a research note to investors on Monday, March 4th. They now have a “market perform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Packaging Co. of America from $39.00 to $45.00 in a research note to investors on Thursday, February 28th. They now have an “equal weight” rating on the stock. Finally, analysts at Argus downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, February 27th.

Packaging Co. of America (NYSE: PKG) opened at 43.14 on Monday. Packaging Co. of America has a 52-week low of $25.77 and a 52-week high of $43.86. The stock’s 50-day moving average is currently $40.99. The company has a market cap of $4.157 billion and a price-to-earnings ratio of 25.68.

Packaging Co. of America (NYSE: PKG) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.01. The company had revenue of $737.00 million for the quarter, compared to the consensus estimate of $716.36 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Packaging Co. of America has set its Q1 guidance at $0.56 EPS. On average, analysts predict that Packaging Co. of America will post $2.82 earnings per share for the current fiscal year.

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated products in the United States.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.