Packaging Co. of America (NYSE:PKG) Price Target Raised to $239.00

Packaging Co. of America (NYSE:PKG) had its target price hoisted by research analysts at Truist Financial from $237.00 to $239.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 26.44% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group assumed coverage on Packaging Co. of America in a report on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price objective for the company. Jefferies Financial Group downgraded Packaging Co. of America from a “buy” rating to a “hold” rating and decreased their target price for the company from $245.00 to $205.00 in a report on Monday. Wall Street Zen cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $209.83.

Packaging Co. of America Trading Down 0.2%

NYSE:PKG traded down $0.43 during midday trading on Tuesday, reaching $189.03. 86,781 shares of the stock traded hands, compared to its average volume of 900,193. The stock has a market capitalization of $17.01 billion, a P/E ratio of 21.16, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a fifty day moving average of $189.32 and a 200 day moving average of $207.24. Packaging Co. of America has a 12 month low of $172.71 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC lifted its position in Packaging Co. of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock valued at $26,000 after buying an additional 70 shares during the period. TCTC Holdings LLC increased its stake in shares of Packaging Co. of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 70 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at about $44,000. Alpine Bank Wealth Management bought a new stake in Packaging Co. of America during the first quarter worth about $39,000. Finally, Geneos Wealth Management Inc. boosted its stake in Packaging Co. of America by 40.4% during the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 57 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

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.