NEW YORK (TheStreet) -- Packaging Corp. of America (PKG - Get Report) stock is increasing by 6.02% to $69.42 on heavy volume on Wednesday morning, after the company reported its second quarter earnings results.

Packaging Corp. of America reported earnings of $1.16 per diluted share for the quarter ended June 2015, compared with $1.01 per share for the same quarter in 2014.

The company's revenue, however, fell 1% to $1.45 billion for the second quarter of this year, compared with $1.47 billion for last year's second quarter.

Packaging Corp. of America's total sales were dragged by paper sales, which fell nearly 5% to $281 million in the 2015 second quarter, compared with $295 million in the same period last year.

Additionally, Packaging Corp. of America was upgraded to "outperform" from "market perform" at BMO Capital Markets on Wednesday morning.

Separately, TheStreet Ratings team rates PACKAGING CORP OF AMERICA as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate PACKAGING CORP OF AMERICA (PKG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: PKG Ratings Report

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