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

Packaging Co. of America (NYSE:PKG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other research firms have also weighed in on PKG. Bank of America boosted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Wells Fargo & Company boosted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, Truist Financial boosted their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Packaging Co. of America Price Performance

NYSE:PKG opened at $212.40 on Thursday. The firm has a market cap of $19.07 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.77. The stock has a 50 day moving average of $198.56 and a two-hundred day moving average of $188.15. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $217.69. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. On average, analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the company’s 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 transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the company’s 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 directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds have recently bought and sold shares of PKG. Register Financial Advisors LLC acquired a new position in Packaging Co. of America during the 1st quarter worth about $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America during the 4th quarter worth about $28,000. Asset Dedication LLC lifted its stake in 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 acquiring an additional 112 shares in the last quarter. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America during the 2nd quarter worth about $33,000. Finally, Headlands Technologies LLC purchased a new stake in Packaging Co. of America during the 1st quarter worth about $43,000. Institutional investors and hedge funds 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.