Packaging Co. of America (NYSE:PKG – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
Other analysts also recently issued reports about the company. Wells Fargo & Company lifted their price target on Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a report on Thursday, November 30th. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Citigroup lifted their target price on Packaging Co. of America from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Jefferies Financial Group cut their target price on Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, October 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and a consensus price target of $154.67.
Packaging Co. of America Stock Down 0.2 %
Shares of NYSE PKG opened at $166.16 on Tuesday. The company has a market capitalization of $14.89 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.17 and a quick ratio of 1.40. The business has a 50-day moving average of $162.07 and a two-hundred day moving average of $152.57. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $171.61.
Packaging Co. of America (NYSE:PKG – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.13. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.99 billion. Packaging Co. of America had a return on equity of 21.30% and a net margin of 10.04%. Packaging Co. of America’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.83 EPS. On average, analysts forecast that Packaging Co. of America will post 8.36 earnings per share for the current fiscal year.
Insider Activity at Packaging Co. of America
In related news, SVP Kent A. Pflederer sold 4,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $150.93, for a total value of $603,720.00. Following the transaction, the senior vice president now owns 54,447 shares in the company, valued at approximately $8,217,685.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Packaging Co. of America news, Director Paul T. Stecko sold 9,737 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $153.99, for a total transaction of $1,499,400.63. Following the transaction, the director now owns 18,765 shares in the company, valued at approximately $2,889,622.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kent A. Pflederer sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $150.93, for a total value of $603,720.00. Following the transaction, the senior vice president now owns 54,447 shares in the company, valued at approximately $8,217,685.71. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Packaging Co. of America
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC boosted its stake in shares of Packaging Co. of America by 0.4% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,793 shares of the industrial products company’s stock worth $2,736,000 after acquiring an additional 72 shares in the last quarter. Brookstone Capital Management lifted its stake in Packaging Co. of America by 11.1% in the 4th quarter. Brookstone Capital Management now owns 5,901 shares of the industrial products company’s stock valued at $961,000 after buying an additional 591 shares in the last quarter. 1834 Investment Advisors Co. raised its holdings in Packaging Co. of America by 185.0% in the 4th quarter. 1834 Investment Advisors Co. now owns 29,410 shares of the industrial products company’s stock valued at $4,791,000 after acquiring an additional 19,090 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Packaging Co. of America in the 4th quarter valued at $16,338,000. Finally, Raymond James Trust N.A. raised its holdings in Packaging Co. of America by 10.1% in the 4th quarter. Raymond James Trust N.A. now owns 5,649 shares of the industrial products company’s stock valued at $920,000 after acquiring an additional 520 shares during the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.
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 Packaging and Paper segments. 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.