D.A. Davidson Downgrades Packaging Corp to Hold

By Austin Angelo

Packaging Corp (NYSE: PKG) received a Hold rating from D.A. Davidson analyst Steven Chercover today. The company’s shares opened today at $94.83, close to its 52-week high of $96.87.

According to TipRanks.com, Chercover is a 5-star analyst with an average return of 13.3% and a 79.1% success rate. Chercover covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Clearwater Paper, and Sonoco Products.

Packaging Corp has an analyst consensus of Moderate Buy.

Packaging Corp’s market cap is currently $8.65B and has a P/E ratio of 19.75. The company has a book value ratio of 5.0008.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is neutral on the stock. Most recently, in July 2016, Kent Pflederer, the SVP of PKG sold 1,100 shares for a total of $81,730.

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 Corporation of America manufactures and sells containerboard and corrugated packaging products. It operates through following segments: Packaging, Paper and Corporate and Other. The Packaging segment offers various corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers and market pulp. The Corporate and other segment include support staff services and related assets and liabilities, transportation assets, and activity related to other ancillary support operations. The company was founded in 1959 and is headquartered in Lake Forest, IL.