Packaging Co. of America (NYSE:PKG) Rating Increased to Buy at StockNews.com

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

Several other equities analysts have also commented on PKG. Truist Financial raised their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Citigroup boosted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Stock Down 2.2 %

Shares of NYSE PKG opened at $182.20 on Thursday. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The firm’s 50 day simple moving average is $179.81 and its two-hundred day simple moving average is $166.54. The stock has a market capitalization of $16.35 billion, a P/E ratio of 21.49, a PEG ratio of 4.52 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the business earned $2.35 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,041 shares of company stock worth $6,799,177. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Packaging Co. of America in the third quarter valued at about $25,000. Clear Street Markets LLC raised its stake in shares of Packaging Co. of America by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 88 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $28,000. ICA Group Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $28,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

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.