Packaging Co. of America (NYSE:PKG) Hits New 12-Month High – Time to Buy?

Packaging Co. of America (NYSE:PKG) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $232.40 and last traded at $231.46, with a volume of 2418 shares changing hands. The stock had previously closed at $228.80.

Analysts Set New Price Targets

Several research firms have commented on PKG. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Citigroup increased their target price on 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. Finally, Truist Financial restated a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Trading Up 0.2 %

The business has a fifty day simple moving average of $213.79 and a 200 day simple moving average of $195.09. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 3.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts anticipate that Packaging Co. of America will post 9 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC lifted its stake in shares of Packaging Co. of America by 16.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,059 shares of the industrial products company’s stock worth $1,951,000 after purchasing an additional 1,293 shares during the period. Foster & Motley Inc. purchased a new position in shares of Packaging Co. of America in the 3rd quarter worth $205,000. Benchmark Financial Wealth Advisors LLC raised its position in shares of Packaging Co. of America by 22.0% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $439,000 after buying an additional 368 shares during the period. Catalina Capital Group LLC purchased a new position in shares of Packaging Co. of America in the 3rd quarter worth $253,000. Finally, Avidian Wealth Enterprises LLC purchased a new position in shares of Packaging Co. of America in the 3rd quarter worth $228,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

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.