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

Packaging Co. of America (NYSE:PKG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other equities research analysts have also weighed in on the company. Citigroup raised their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reissued a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $194.30 on Friday. The stock’s 50-day moving average is $214.03 and its two-hundred day moving average is $222.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC lifted its stake in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at about $293,000. AlphaQuest LLC boosted its holdings in Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $6,966,000. Finally, GAMMA Investing LLC raised its stake in shares of Packaging Co. of America by 24.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after buying an additional 473 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.