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PKG - Packaging Corporation of America: A Quality Company But With Overextended Valuation
Packaging Corporation of America
2024-04-16 07:48:24 ET
Summary
Packaging Corporation of America's topline contracted in 2023, but capacity expansion and restarted facilities are expected to benefit revenue in FY24.
While the short-term outlook is not favorable, the company's order backlog and capacity expansion initiatives support a positive long-term outlook.
PKG's margins are showing strength despite topline weakness.
The company's stock valuation appears to be at a premium at the moment, leading to a hold rating.