Packaging Co. of America (NYSE:PKG) Upgraded by StockNews.com to Buy Rating

Packaging Co. of America (NYSE:PKG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other analysts have also recently commented on PKG. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Citigroup boosted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 1.4 %

NYSE PKG opened at $195.40 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The stock has a market capitalization of $17.55 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The stock has a fifty day moving average of $210.46 and a 200-day moving average of $222.28.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Institutional Trading of Packaging Co. of America

Several hedge funds have recently bought and sold shares of PKG. Sanctuary Advisors LLC increased its position in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 2,946 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Packaging Co. of America during the 4th quarter worth about $293,000. AlphaQuest LLC boosted its position in shares of Packaging Co. of America by 25.3% during the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after buying an additional 1,954 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $6,966,000. Finally, Sciencast Management LP acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $2,853,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

About Packaging Co. of America

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.