Packaging Co. of America (NYSE:PKG) Price Target Raised to $235.00

Packaging Co. of America (NYSE:PKG) had its target price raised by analysts at Wells Fargo & Company from $215.00 to $235.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.07% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Citigroup increased their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial increased their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Bank of America raised their target price on 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and an average price target of $199.50.

Packaging Co. of America Stock Performance

NYSE:PKG traded up $0.14 on Monday, hitting $213.51. The company’s stock had a trading volume of 193,567 shares, compared to its average volume of 599,724. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $204.79 and a two-hundred day moving average of $190.88. The firm has a market capitalization of $19.18 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 4.18 and a beta of 0.77. Packaging Co. of America has a one year low of $143.82 and a one year high of $217.69.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. Research analysts predict that Packaging Co. of America will post 8.73 earnings per share for the current year.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds have recently modified their holdings of the stock. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the 1st quarter valued at $25,000. Central Pacific Bank Trust Division purchased a new position in shares of Packaging Co. of America during the 3rd quarter valued at $32,000. Asset Dedication LLC grew 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 valued at $31,000 after purchasing an additional 112 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at $28,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of Packaging Co. of America during the 2nd quarter valued at $33,000. 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.