Packaging Co. of America (NYSE:PKG) Upgraded to “Buy” at StockNews.com

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

Other analysts have also recently issued reports about the company. Citigroup raised 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. Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their target price 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $244.14 on Tuesday. The company has a market capitalization of $21.93 billion, a P/E ratio of 28.45, a PEG ratio of 3.44 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a 50 day moving average price of $228.82 and a two-hundred day moving average price of $205.39.

Packaging Co. of America (NYSE:PKG) last posted its quarterly 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. 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 net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. Analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,000 shares of company stock worth $7,500,905. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds have recently bought and sold shares of the business. Asset Dedication LLC lifted its holdings in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America in the third quarter worth $32,000. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the second quarter worth $33,000. Larson Financial Group LLC increased its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America in the 2nd quarter worth about $50,000. 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.