Packaging Co. of America (NYSE:PKG) Receives Average Recommendation of “Hold” from Brokerages

Packaging Co. of America (NYSE:PKG) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $190.50.

Several research analysts recently issued reports on PKG shares. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Citigroup raised their price target 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. Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

Packaging Co. of America Stock Up 0.4 %

NYSE PKG opened at $196.60 on Tuesday. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $201.99. The company has a market capitalization of $17.65 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 5.02 and a beta of 0.77. The stock’s 50 day moving average is $188.74 and its two-hundred day moving average is $182.38. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts forecast that Packaging Co. of America will post 8.71 earnings per share for the current fiscal year.

Insider Transactions at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was 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 of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds have recently modified their holdings of PKG. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the first quarter valued at approximately $25,000. Asset Dedication LLC boosted its stake in 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 worth $31,000 after purchasing an additional 112 shares during the period. Neo Ivy Capital Management bought a new position in Packaging Co. of America during the 4th quarter worth about $28,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter valued at about $33,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

About Packaging Co. of America

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.