Packaging Co. of America (NYSE:PKG) Upgraded to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a research report report published on Wednesday morning, MarketBeat reports. The firm currently has $280.00 price objective on the industrial products company’s stock, up from their prior price objective of $215.00.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

Packaging Co. of America Price Performance

Shares of PKG traded down $0.61 during trading hours on Wednesday, reaching $228.61. 128,291 shares of the company’s stock traded hands, compared to its average volume of 602,576. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $234.70 and its 200-day simple moving average is $210.02. The stock has a market cap of $20.53 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. Equities analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

Large investors have recently bought and sold shares of the company. Asset Dedication LLC lifted its stake in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America during the third quarter valued at $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter valued at $33,000. Larson Financial Group LLC grew its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Packaging Co. of America during the 2nd quarter valued at about $50,000. 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.