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

Packaging Co. of America (NYSE:PKG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also recently issued reports about the company. Citigroup lifted their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America boosted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Truist Financial boosted 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 boosted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Stock Up 2.2 %

PKG opened at $201.09 on Tuesday. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $201.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm’s fifty day moving average price is $189.24 and its two-hundred day moving average price is $183.08. The company has a market capitalization of $18.06 billion, a P/E ratio of 25.11, a P/E/G ratio of 5.03 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 earnings per share. On average, analysts anticipate that Packaging Co. of America will post 8.71 EPS for the current 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 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. Also, SVP Donald R. Shirley sold 6,000 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 value of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently modified their holdings of the business. Truist Financial Corp grew its position in shares of Packaging Co. of America by 1.4% in the 2nd quarter. Truist Financial Corp now owns 24,079 shares of the industrial products company’s stock valued at $4,396,000 after purchasing an additional 341 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Packaging Co. of America by 3.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,772 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 111 shares during the period. Quarry LP grew its position in shares of Packaging Co. of America by 95.9% in the 2nd quarter. Quarry LP now owns 521 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 255 shares during the period. NewEdge Advisors LLC grew its position in shares of Packaging Co. of America by 11.7% in the 2nd quarter. NewEdge Advisors LLC now owns 10,847 shares of the industrial products company’s stock valued at $1,980,000 after purchasing an additional 1,138 shares during the period. Finally, Front Row Advisors LLC grew its position in shares of Packaging Co. of America by 0.9% in the 2nd quarter. Front Row Advisors LLC now owns 16,930 shares of the industrial products company’s stock valued at $3,112,000 after purchasing an additional 145 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.