Packaging Co. of America (NYSE:PKG) Cut 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 note issued to investors on Saturday.

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

Packaging Co. of America Stock Performance

NYSE:PKG opened at $215.67 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $202.87 and a two-hundred day moving average price of $189.73. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The company has a market capitalization of $19.37 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 4.22 and a beta of 0.77.

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. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm posted $2.31 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, research analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the business’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 transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the company’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 directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors have recently bought and sold shares of the stock. Register Financial Advisors LLC acquired a new stake in Packaging Co. of America in the first quarter worth about $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America in the fourth quarter worth about $28,000. Asset Dedication LLC raised its position in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares in the last quarter. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the second quarter worth about $33,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America in the first quarter worth about $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

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.