Packaging Co. of America (NYSE:PKG) Receives Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of Packaging Co. of America (NYSE:PKG) in a research note released on Thursday morning, Benzinga reports. Truist Financial currently has a $252.00 price target on the industrial products company’s stock, up from their prior price target of $242.00.

Several other analysts also recently commented on the stock. Citigroup boosted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded up $0.25 during trading on Thursday, hitting $227.76. The stock had a trading volume of 74,943 shares, compared to its average volume of 597,012. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $231.30. 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 business has a fifty day moving average of $211.45 and a two-hundred day moving average of $193.93. The firm has a market cap of $20.45 billion, a P/E ratio of 28.44, a PEG ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts expect that Packaging Co. of America will post 8.77 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Institutional Trading of Packaging Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its stake in Packaging Co. of America by 7.3% in the first quarter. Park Avenue Securities LLC now owns 4,327 shares of the industrial products company’s stock valued at $821,000 after acquiring an additional 293 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Packaging Co. of America in the first quarter valued at about $377,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Packaging Co. of America by 5.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock worth $5,165,000 after buying an additional 1,421 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America during the 1st quarter worth about $25,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Packaging Co. of America by 101.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,613 shares of the industrial products company’s stock valued at $2,394,000 after acquiring an additional 6,360 shares during the period. 89.78% of the stock is owned by institutional investors.

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.