Truist Financial Reaffirms Buy Rating for Packaging Co. of America (NYSE:PKG)

Truist Financial reissued their buy rating on shares of Packaging Co. of America (NYSE:PKG) in a research note released on Thursday morning, Benzinga reports. They currently have a $252.00 target price on the industrial products company’s stock, up from their previous target price of $242.00.

A number of other research firms also recently weighed in on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Up 0.1 %

NYSE:PKG traded up $0.25 during trading hours on Thursday, reaching $227.76. 74,943 shares of the stock were exchanged, compared to its average volume of 597,012. The stock has a market cap of $20.45 billion, a PE ratio of 28.44, a PEG ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $231.30. The firm has a 50 day moving average of $211.45 and a 200 day moving average of $193.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 earnings per share. On average, equities analysts expect that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 62.50%.

Hedge Funds Weigh In On Packaging Co. of America

Several large investors have recently bought and sold shares of PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the 1st quarter worth approximately $25,000. Asset Dedication LLC increased its holdings in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the second quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America during the first quarter worth about $43,000. 89.78% of the stock is currently 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.