Packaging Co. of America (NYSE:PKG) Rating Increased to Buy at StockNews.com

Packaging Co. of America (NYSE:PKG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Truist Financial reiterated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Down 0.6 %

Packaging Co. of America stock opened at $238.34 on Tuesday. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $245.00. The stock has a market capitalization of $21.41 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 3.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a 50 day simple moving average of $219.92 and a 200-day simple moving average of $199.27.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 EPS. On average, analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the company. Boston Partners grew its holdings in Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Millennium Management LLC lifted its position in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after purchasing an additional 262,315 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after purchasing an additional 249,483 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after buying an additional 155,142 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its stake in Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after buying an additional 123,711 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

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.