Packaging Co. of America (NYSE:PKG) Receives $190.50 Consensus Price Target from Analysts

Packaging Co. of America (NYSE:PKG) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $190.50.

Several research analysts have recently weighed in on PKG shares. Truist Financial boosted their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Bank of America increased their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Citigroup lifted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $197.01 on Tuesday. The company has a fifty day simple moving average of $188.99 and a 200-day simple moving average of $182.83. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 5.03 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $201.99.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business earned $2.31 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Packaging Co. of America will post 8.71 EPS for the current fiscal year.

Insider Activity

In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction 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 approximately $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were 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 owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Register Financial Advisors LLC acquired a new stake in Packaging Co. of America in the first quarter valued at approximately $25,000. Asset Dedication LLC lifted its position 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 acquired a new position in shares of Packaging Co. of America during the fourth quarter worth $28,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America in the second quarter valued at $33,000. Finally, First Horizon Advisors Inc. raised its stake in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors 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.