Brokerages Set Packaging Co. of America (NYSE:PKG) PT at $221.60

Packaging Co. of America (NYSE:PKG) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $221.60.

A number of brokerages recently commented on PKG. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial restated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock worth $7,500,905 in the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PKG. Asset Dedication LLC increased its position in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America in the third quarter worth about $32,000. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the second quarter valued at about $33,000. Larson Financial Group LLC raised its stake in 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 valued at $35,000 after buying an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Packaging Co. of America during the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.4 %

PKG stock opened at $247.36 on Thursday. Packaging Co. of America has a twelve month low of $153.58 and a twelve month high of $250.82. The stock has a market cap of $22.22 billion, a P/E ratio of 28.83, a PEG ratio of 3.46 and a beta of 0.76. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $225.48 and its two-hundred day moving average is $203.08.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

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.