Packaging Co. of America (NYSE:PKG) Stock Rating Lowered by StockNews.com

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

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Citigroup upped their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Stock Up 0.1 %

PKG opened at $230.17 on Friday. The company has a market capitalization of $20.67 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $232.98. The business has a 50-day moving average of $214.85 and a 200-day moving average of $195.90.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The firm 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 19.35%. Packaging Co. of America’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. Equities research analysts forecast that Packaging Co. of America will post 9 EPS 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. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.17%. Packaging Co. of America’s dividend payout ratio is 58.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the third quarter worth about $32,000. Asset Dedication LLC increased its position in shares of Packaging Co. of America by 200.0% during the second 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. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America in the second quarter valued at $33,000. Headlands Technologies LLC bought a new position in Packaging Co. of America in the first quarter worth $43,000. Finally, Assetmark Inc. boosted its stake 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 worth $58,000 after buying an additional 83 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

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.