Wells Fargo & Company Cuts Packaging Co. of America (NYSE:PKG) Price Target to $236.00

Packaging Co. of America (NYSE:PKG) had its price objective cut by analysts at Wells Fargo & Company from $253.00 to $236.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 9.68% from the company’s previous close.

PKG has been the topic of a number of other reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup boosted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Truist Financial upped their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.83.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $215.17 on Thursday. The firm’s 50-day moving average is $235.31 and its two-hundred day moving average is $220.05. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market capitalization of $19.32 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Analysts predict that Packaging Co. of America will post 9.08 earnings per share for the current year.

Insider Activity at Packaging Co. of America

In related news, 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 transaction, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock valued at $8,064,152 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America during the 3rd quarter valued at about $32,000. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America during the fourth quarter valued at about $48,000. Finally, Assetmark Inc. raised its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after buying an additional 83 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.