Argus Downgrades Packaging Corp. of America (PKG) to Hold, Removed From Focus List

Argus analyst David Coleman downgraded Packaging Corp. of America (NYSE: PKG) from Buy to Hold.

The analyst comments "We are lowering our near-term rating on Packaging Corp. of America (NYSE: PKG) to HOLD from BUY and removing it from our Focus List. Our long-term rating remains BUY. The company has seen earnings decline in recent quarters and issued disappointing adjusted EPS guidance for 1Q20. It also continues to face challenges from rising costs and lower selling prices, and has had difficulty adjusting plant operations quickly to take advantage of changes in customer demand. Given current company and industry challenges, we believe that a near-term HOLD rating is now appropriate."

For an analyst ratings summary and ratings history on Packaging Corp. of America click here. For more ratings news on Packaging Corp. of America click here.

Shares of Packaging Corp. of America closed at $99.62 yesterday.

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