Packaging Co. of America (NYSE:PKG) Stock Price Expected to Rise, Truist Financial Analyst Says

Packaging Co. of America (NYSE:PKG) had its price objective hoisted by equities researchers at Truist Financial from $252.00 to $282.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 24.85% from the company’s current price.

Other analysts also recently issued 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. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup upped their target price 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. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $236.33.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $225.88 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.29 billion, a PE ratio of 26.33, a P/E/G ratio of 3.34 and a beta of 0.79. The firm has a 50 day moving average of $236.06 and a two-hundred day moving average of $213.83. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $2.05 EPS. The company’s revenue was up 14.9% on a year-over-year basis. On average, research analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock valued at $8,064,152 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

Several institutional investors and hedge funds have recently made changes to their positions in PKG. Deseret Mutual Benefit Administrators lifted its stake in Packaging Co. of America by 15.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after buying an additional 49 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares in the last quarter. Huntington National Bank boosted its position in Packaging Co. of America by 0.5% during the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock worth $2,170,000 after acquiring an additional 55 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.