Packaging Co. of America (NYSE:PKG) Stock Rating Upgraded by 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 research report issued to clients and investors on Thursday.

A number of other analysts have also recently commented on the company. Truist Financial upped their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Citigroup raised their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Bank of America increased their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Trading Down 1.3 %

Packaging Co. of America stock opened at $212.90 on Thursday. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The company has a market cap of $19.12 billion, a P/E ratio of 26.61, a P/E/G ratio of 4.22 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $199.87 and a two-hundred day simple moving average of $188.51.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The business 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 was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 earnings per share. Analysts predict that Packaging Co. of America will post 8.72 EPS for the current year.

Insider Buying and Selling

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’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 owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, 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.

Institutional Trading of Packaging Co. of America

A number of large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Packaging Co. of America during the 4th quarter valued at approximately $163,314,000. PNC Financial Services Group Inc. raised its stake in shares of Packaging Co. of America by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 60,703 shares of the industrial products company’s stock valued at $9,889,000 after acquiring an additional 1,392 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Packaging Co. of America by 37.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,389 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 928 shares during the last quarter. Balentine LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter worth about $228,000. Finally, Franklin Resources Inc. grew its holdings in Packaging Co. of America by 8.2% during the 4th quarter. Franklin Resources Inc. now owns 157,739 shares of the industrial products company’s stock valued at $25,697,000 after purchasing an additional 11,932 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

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.