Packaging Co. of America (NYSE:PKG) Receives $176.29 Average PT from Brokerages

Packaging Co. of America (NYSE:PKG) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $183.67.

PKG has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Truist Financial lifted their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Finally, Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th.

Packaging Co. of America Stock Down 0.3 %

Shares of PKG stock opened at $182.56 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 1 year low of $127.69 and a 1 year high of $191.39. The firm’s fifty day moving average price is $181.12 and its two-hundred day moving average price is $176.51. The firm has a market capitalization of $16.39 billion, a P/E ratio of 22.82, a PEG ratio of 4.94 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business earned $2.20 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Packaging Co. of America will post 8.33 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Insider Buying and Selling

In related news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Packaging Co. of America

Hedge funds and other institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC acquired a new stake in Packaging Co. of America in the 1st quarter worth about $25,000. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America in the 4th quarter worth about $28,000. First Horizon Advisors Inc. raised its stake in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. acquired a new stake in Packaging Co. of America in the 4th quarter worth about $31,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.78% 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 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.