Packaging Co. of America (NYSE:PKG) Downgraded by StockNews.com to Hold

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

Other analysts also recently issued research reports about the stock. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company upped their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Truist Financial raised their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup increased their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.50.

Packaging Co. of America Stock Performance

PKG opened at $204.91 on Wednesday. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $206.74. The stock has a market cap of $18.40 billion, a P/E ratio of 25.61, a P/E/G ratio of 5.08 and a beta of 0.77. The stock’s 50 day simple moving average is $191.09 and its 200 day simple moving average is $184.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. As a group, equities analysts anticipate that Packaging Co. of America will post 8.71 EPS for the current fiscal year.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

Several large investors have recently modified their holdings of PKG. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter valued at approximately $25,000. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America in the fourth quarter valued at $28,000. First Horizon Advisors Inc. increased its position in shares of Packaging Co. of America by 60.5% in the 4th 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. Gables Capital Management Inc. acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $31,000. Finally, Asset Dedication LLC lifted its position in shares of Packaging Co. of America by 200.0% during the second 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. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.