Packaging Co. of America (NYSE:PKG) Rating Lowered to Hold at StockNews.com

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

A number of other equities research analysts also recently weighed in on PKG. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial raised their price target on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 0.4 %

NYSE:PKG opened at $214.22 on Wednesday. The company has a market cap of $19.24 billion, a PE ratio of 24.97, a P/E/G ratio of 2.36 and a beta of 0.79. The business’s 50 day moving average is $234.69 and its two-hundred day moving average is $220.01. 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 has a 52 week low of $159.57 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. On average, analysts predict that Packaging Co. of America will post 9.08 EPS for the current year.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America during the third quarter valued at about $32,000. Fortitude Family Office LLC lifted its holdings in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. grew its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Company Profile

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.