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

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

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company upped their price target 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 price target on Packaging Co. of America from $199.00 to $221.00 and gave the company 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 research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Stock Down 0.0 %

Shares of PKG stock opened at $243.99 on Tuesday. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The firm has a market cap of $21.91 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77. The stock has a 50 day moving average of $229.40 and a 200-day moving average of $205.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. On average, equities analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This trade 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 at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the stock. Summit Financial Strategies Inc. lifted its stake in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after buying an additional 12,129 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Packaging Co. of America by 227.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after purchasing an additional 22,397 shares during the period. M&G Plc acquired a new stake in shares of Packaging Co. of America during the second quarter worth about $840,000. Dai ichi Life Insurance Company Ltd raised its position in shares of Packaging Co. of America by 10.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company’s stock worth $6,425,000 after purchasing an additional 3,355 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Packaging Co. of America by 22.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company’s stock worth $6,098,000 after purchasing an additional 6,184 shares during the period. 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.