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

StockNews.com cut shares of Packaging Co. of America (NYSE:PKGFree Report) from a buy rating to a hold rating in a research note released on Friday.

Several other research analysts have also weighed in on the company. Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and a consensus target price of $221.60.

View Our Latest Stock Report on Packaging Co. of America

Packaging Co. of America Trading Up 0.5 %

Shares of PKG opened at $229.99 on Friday. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $232.98. The company has a market cap of $20.66 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 3.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock has a fifty day moving average price of $214.85 and a two-hundred day moving average price of $195.78.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. Analysts predict that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PKG. Deseret Mutual Benefit Administrators boosted its stake in shares of Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after buying an additional 49 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Packaging Co. of America by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after buying an additional 56 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after buying an additional 56 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

(Get Free Report)

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.

See Also

Analyst Recommendations for Packaging Co. of America (NYSE:PKG)

Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.