Packaging Corporation of America (NYSE:PKG) Stock Rating Lowered by Jefferies Financial Group

Packaging Corporation of America (NYSE:PKG) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Monday, Marketbeat.com reports. They presently have a $205.00 price objective on the industrial products company’s stock, down from their previous price objective of $245.00. Jefferies Financial Group’s price objective points to a potential upside of 10.01% from the company’s previous close.

PKG has been the subject of a number of other reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $180.00 price objective (down from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Truist Financial reduced their price objective on shares of Packaging Corporation of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group assumed coverage on shares of Packaging Corporation of America in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 target price on the stock. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Packaging Corporation of America currently has a consensus rating of “Hold” and a consensus price target of $211.80.

Packaging Corporation of America Trading Down 1.6%

NYSE:PKG opened at $186.35 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. The firm has a 50-day moving average of $189.25 and a 200-day moving average of $207.09. The company has a market cap of $16.77 billion, a PE ratio of 19.49, a PEG ratio of 2.51 and a beta of 0.84. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82.

Packaging Corporation of America (NYSE:PKG) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. As a group, equities research analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Institutional Trading of Packaging Corporation of America

Institutional investors have recently modified their holdings of the business. Clearstead Trust LLC increased its holdings in Packaging Corporation of America by 118.6% during the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 70 shares during the period. TCTC Holdings LLC increased its holdings in Packaging Corporation of America by 86.4% during the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 70 shares during the period. Alpine Bank Wealth Management bought a new stake in Packaging Corporation of America during the 1st quarter worth approximately $39,000. Geneos Wealth Management Inc. increased its holdings in Packaging Corporation of America by 40.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 57 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in Packaging Corporation of America during the 1st quarter worth approximately $40,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

About Packaging Corporation 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.