Packaging Co. of America (NYSE:PKG) Upgraded at StockNews.com

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

A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $191.00 to $194.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Citigroup increased their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America raised their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Truist Financial upped their target price on shares of Packaging Co. of America from $208.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.33.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.46 during trading hours on Wednesday, reaching $193.28. 892,152 shares of the company were exchanged, compared to its average volume of 629,991. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $199.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock’s fifty day moving average is $184.06 and its two-hundred day moving average is $179.02. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 5.13 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. 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 business earned $2.31 EPS. Sell-side analysts forecast that Packaging Co. of America will post 8.5 earnings per share for the current fiscal year.

Insider Transactions at Packaging Co. of America

In other news, Director Karen E. Gowland acquired 300 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

Large investors have recently bought and sold shares of the business. American National Bank boosted its holdings in shares of Packaging Co. of America by 116.4% in the second quarter. American National Bank now owns 606 shares of the industrial products company’s stock valued at $111,000 after buying an additional 326 shares during the period. NewSquare Capital LLC boosted its stake in Packaging Co. of America by 4.2% in the 2nd quarter. NewSquare Capital LLC now owns 53,636 shares of the industrial products company’s stock worth $9,665,000 after purchasing an additional 2,186 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its stake in Packaging Co. of America by 30.5% in the 2nd quarter. Benchmark Financial Wealth Advisors LLC now owns 1,672 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 391 shares during the period. Financial Advisory Partners LLC bought a new position in Packaging Co. of America during the 2nd quarter worth about $2,232,000. Finally, LongView Wealth Management acquired a new stake in shares of Packaging Co. of America in the 2nd quarter valued at about $714,000. 89.78% of the stock is owned by institutional investors.

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.