Packaging Co. of America’s (PKG) Buy Rating Reiterated at Truist Financial

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

A number of other research firms have also recently weighed in on PKG. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup increased their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $225.86 on Thursday. The company has a market capitalization of $20.28 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The firm has a fifty day simple moving average of $212.04 and a 200-day simple moving average of $194.21. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $231.30.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 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 firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Packaging Co. of America will post 8.77 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Hedge Funds Weigh In On Packaging Co. of America

A number of institutional investors have recently modified their holdings of PKG. Park Avenue Securities LLC grew its holdings in shares of Packaging Co. of America by 7.3% in the 1st quarter. Park Avenue Securities LLC now owns 4,327 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 293 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Packaging Co. of America in the 1st quarter valued at about $377,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Packaging Co. of America by 5.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock valued at $5,165,000 after acquiring an additional 1,421 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America in the 1st quarter valued at approximately $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. Institutional investors own 89.78% of the company’s stock.

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.