Packaging Co. of America (NYSE:PKG) Downgraded by StockNews.com to “Hold”

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

PKG has been the subject of several other reports. Bank of America lifted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Truist Financial upped their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup increased their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $190.50.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $0.44 during trading hours on Wednesday, reaching $204.60. The company had a trading volume of 589,407 shares, compared to its average volume of 612,896. The firm has a market cap of $18.37 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 5.21 and a beta of 0.77. Packaging Co. of America has a one year low of $143.82 and a one year high of $210.11. The business has a fifty day simple moving average of $195.89 and a 200 day simple moving average of $187.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.31 EPS. On average, analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on 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 sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. 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

A number of institutional investors have recently bought and sold shares of PKG. Coldstream Capital Management Inc. boosted its position in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after buying an additional 54 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 56 shares in the last quarter. Moors & Cabot Inc. raised its position in Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares during the period. Evergreen Capital Management LLC increased its position in Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Packaging Co. of America by 2.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after buying an additional 59 shares during the period. 89.78% of the stock is owned by institutional investors.

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.