Packaging Co. of America (NYSE:PKG) Given New $200.00 Price Target at Bank of America

Packaging Co. of America (NYSE:PKG) had its target price boosted by Bank of America from $197.00 to $200.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on PKG. StockNews.com raised shares of Packaging Co. of America from a hold rating to a buy rating in a report on Tuesday, May 21st. Truist Financial lifted their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Citigroup cut their target price on Packaging Co. of America from $183.00 to $181.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company upgraded Packaging Co. of America from an equal weight rating to an overweight rating and boosted their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price objective on the stock. in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have assigned 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 $176.29.

Packaging Co. of America Trading Up 1.3 %

PKG stock opened at $185.04 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a twelve month low of $127.69 and a twelve month high of $191.27. The company has a market cap of $16.62 billion, a P/E ratio of 23.13, a PEG ratio of 7.81 and a beta of 0.78. The business has a fifty day moving average of $180.69 and a 200-day moving average of $175.11.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $2.20 earnings per share. As a group, equities research analysts expect that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.70%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Karen E. Gowland acquired 300 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the 1st quarter worth approximately $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America during the fourth quarter worth $28,000. First Horizon Advisors Inc. grew its position 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 purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. acquired a new stake in Packaging Co. of America in the 4th quarter valued at $31,000. Finally, Anchor Investment Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth about $37,000. Institutional investors and hedge funds 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.