Packaging Co. of America (NYSE:PKG) Stock Rating Lowered by StockNews.com

Packaging Co. of America (NYSE:PKG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

PKG has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $245.30 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $152.99 and a fifty-two week high of $248.62. The firm has a market cap of $22.03 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76. The business has a 50 day moving average price of $224.10 and a 200-day moving average price of $201.79.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in Packaging Co. of America by 4.5% in the 1st quarter. Acadian Asset Management LLC now owns 9,246 shares of the industrial products company’s stock valued at $1,753,000 after purchasing an additional 396 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in Packaging Co. of America by 446.5% during the first quarter. UniSuper Management Pty Ltd now owns 6,039 shares of the industrial products company’s stock worth $1,146,000 after acquiring an additional 4,934 shares during the last quarter. Bessemer Group Inc. raised its holdings in Packaging Co. of America by 12.9% in the 1st quarter. Bessemer Group Inc. now owns 2,654 shares of the industrial products company’s stock valued at $504,000 after acquiring an additional 303 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Packaging Co. of America by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after acquiring an additional 3,078 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Packaging Co. of America during the 1st quarter worth approximately $146,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

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.