Packaging Co. of America (NYSE:PKG) Receives $221.60 Consensus Price Target from Analysts

Packaging Co. of America (NYSE:PKG) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $221.60.

Several brokerages have recently commented on PKG. Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial reissued a “buy” rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd.

Packaging Co. of America Stock Performance

NYSE PKG opened at $226.06 on Friday. The company has a 50-day simple moving average of $213.23 and a two-hundred day simple moving average of $194.85. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $231.30. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 3.20 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Packaging Co. of America will post 9 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Register Financial Advisors LLC bought a new stake in shares of Packaging Co. of America during the 1st quarter valued at $25,000. Asset Dedication LLC increased its holdings in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America in the 3rd quarter valued at $32,000. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.