Packaging Co. of America (NYSE:PKG) PT Raised to $221.00

Packaging Co. of America (NYSE:PKG) had its price target boosted by analysts at Citigroup from $199.00 to $221.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target suggests a potential upside of 4.26% from the company’s current price.

A number of other analysts have also recently commented on PKG. Wells Fargo & Company upped their price target on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America lifted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $196.17.

Packaging Co. of America Trading Down 0.4 %

Shares of PKG opened at $211.98 on Wednesday. The stock has a 50 day simple moving average of $204.15 and a 200-day simple moving average of $190.40. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The stock has a market cap of $19.04 billion, a PE ratio of 26.50, a PEG ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. On average, sell-side analysts predict that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Packaging Co. of America

Large investors have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in Packaging Co. of America during the first quarter valued at about $25,000. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the 3rd quarter valued at approximately $32,000. Asset Dedication LLC increased its stake in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $28,000. Finally, Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America during the 2nd quarter worth $33,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.