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

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a research note released on Tuesday morning.

A number of other equities analysts also recently commented on PKG. Bank of America increased their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research note on Monday, June 17th. Wells Fargo & Company increased their price target on Packaging Co. of America from $194.00 to $215.00 and gave the company an overweight rating in a research report on Thursday, July 25th. Citigroup boosted their price target on 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, Truist Financial increased their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a buy rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has an average rating of Moderate Buy and an average target price of $190.50.

Packaging Co. of America Stock Up 0.3 %

Shares of Packaging Co. of America stock opened at $201.79 on Tuesday. The firm has a market cap of $18.12 billion, a PE ratio of 25.22, a P/E/G ratio of 5.08 and a beta of 0.77. The business’s 50 day simple moving average is $189.57 and its 200 day simple moving average is $183.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $202.22.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 9.06% and a return on equity of 18.21%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.31 earnings per share. On average, analysts predict that Packaging Co. of America will post 8.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction 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 directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred 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 sale, 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. 1.60% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in Packaging Co. of America by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 19,458 shares of the industrial products company’s stock worth $3,552,000 after buying an additional 349 shares during the period. Truist Financial Corp increased its position in Packaging Co. of America by 1.4% during the second quarter. Truist Financial Corp now owns 24,079 shares of the industrial products company’s stock worth $4,396,000 after acquiring an additional 341 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in 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 worth $693,000 after purchasing an additional 111 shares in the last quarter. Quarry LP boosted its holdings in 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. Finally, NewEdge Advisors LLC grew its position in shares of Packaging Co. of America by 11.7% during the 2nd quarter. NewEdge Advisors LLC now owns 10,847 shares of the industrial products company’s stock worth $1,980,000 after purchasing an additional 1,138 shares in the last quarter. 89.78% of the stock is 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.