Packaging Co. of America (NYSE:PKG) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a report released on Wednesday.

A number of other equities analysts also recently commented on the stock. Citigroup upped their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a research note on Monday, July 8th. Bank of America upped their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research note on Monday, June 17th. Truist Financial upped their target price on shares of Packaging Co. of America from $208.00 to $215.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. BNP Paribas downgraded shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price on the stock. in a research note on Friday, April 12th. Finally, Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $191.00 to $194.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of Moderate Buy and an average price target of $190.50.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $199.00 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $199.42. The firm has a market capitalization of $17.87 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 5.26 and a beta of 0.77. The company’s 50-day moving average is $184.62 and its 200 day moving average is $179.43.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 EPS. Research analysts forecast that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.51%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In other news, Director Karen E. Gowland purchased 300 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently made changes to their positions in the stock. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America during the fourth quarter valued at $28,000. First Horizon Advisors Inc. lifted its position in Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Gables Capital Management Inc. acquired a new position in Packaging Co. of America during the fourth quarter valued at $31,000. Finally, Headlands Technologies LLC acquired a new position in Packaging Co. of America during the first quarter valued at $43,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.