Packaging Co. of America (NYSE:PKG) Rating Lowered to “Hold” at StockNews.com

Packaging Co. of America (NYSE:PKG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other brokerages have also recently commented on PKG. Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 3.2 %

NYSE:PKG opened at $183.04 on Friday. The company has a 50 day simple moving average of $205.91 and a two-hundred day simple moving average of $221.60. The company has a market cap of $16.46 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Packaging Co. of America by 182.3% in the 1st quarter. Versant Capital Management Inc now owns 895 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 578 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Packaging Co. of America by 35.1% in the first quarter. Central Pacific Bank Trust Division now owns 1,801 shares of the industrial products company’s stock worth $357,000 after buying an additional 468 shares in the last quarter. Wellington Management Group LLP boosted its stake in Packaging Co. of America by 134.1% during the fourth quarter. Wellington Management Group LLP now owns 28,260 shares of the industrial products company’s stock valued at $6,362,000 after buying an additional 16,190 shares during the last quarter. 111 Capital purchased a new position in Packaging Co. of America during the 4th quarter valued at approximately $1,256,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Packaging Co. of America by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,108 shares of the industrial products company’s stock valued at $6,103,000 after buying an additional 607 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 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.