Wells Fargo Sticks to Its Buy Rating for Packaging (PKG)
Wells Fargo analyst Gabrial Hajde maintained a Buy rating on Packaging today and set a price target of $245.00.
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According to TipRanks, Hajde is a 3-star analyst with an average return of 2.0% and a 55.39% success rate. Hajde covers the Consumer Cyclical sector, focusing on stocks such as O-I Glass, Sonoco Products, and Amcor.
Packaging has an analyst consensus of Strong Buy, with a price target consensus of $245.00.
Based on Packaging’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.37 billion and a net profit of $170.9 million. In comparison, last year the company earned a revenue of $2.14 billion and had a net profit of $203.8 million
Based on the recent corporate insider activity of 51 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. Last month, Mark Kowlzan, the Chairman & CEO of PKG sold 9,266.00 shares for a total of $2,011,370.62.
Read More on PKG:
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- Anojja Shah Reaffirms Buy Rating and Maintains $248 Price Target Despite Near-Term Cost Pressures
- UBS upgrades Packaging Corp. to Buy on sticky price hikes
- Packaging Corp. upgraded to Buy from Neutral at UBS
- Packaging Corporation Shareholders Reaffirm Board, Pay and Auditor
- Packaging Corp. raises annual dividend 20% to $6 per share
