Packaging Co. of America (NYSE:PKG) Downgraded 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 research note issued to investors on Wednesday.

A number of other research analysts have also recently issued reports on PKG. Bank of America increased their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Truist Financial increased their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $190.50.

Packaging Co. of America Trading Up 0.8 %

NYSE PKG opened at $206.69 on Wednesday. The stock has a market capitalization of $18.56 billion, a P/E ratio of 25.84, a P/E/G ratio of 5.08 and a beta of 0.77. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $206.90. The firm has a 50-day moving average price of $191.90 and a 200 day moving average price of $184.72. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. Equities research analysts expect that Packaging Co. of America will post 8.71 EPS for the current year.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds have recently made changes to their positions in the stock. Register Financial Advisors LLC purchased a new position in shares of Packaging Co. of America in the 1st quarter valued at $25,000. Neo Ivy Capital Management purchased a new position in shares of Packaging Co. of America in the 4th quarter valued at $28,000. First Horizon Advisors Inc. raised its stake in shares of Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. purchased a new position in shares of Packaging Co. of America in the 4th quarter valued at $31,000. Finally, Asset Dedication LLC raised its stake in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 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.