Packaging Co. of America (NYSE:PKG) Stock Rating Lowered by StockNews.com

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

Several other equities analysts have also recently weighed in on PKG. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial increased their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $233.00.

Read Our Latest Stock Report on Packaging Co. of America

Packaging Co. of America Trading Down 0.4 %

Shares of NYSE PKG opened at $214.22 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a market cap of $19.24 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 2.36 and a beta of 0.79. The business has a fifty day simple moving average of $234.69 and a 200-day simple moving average of $220.01.

Packaging Co. of America (NYSE:PKGGet Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Sell-side analysts predict that Packaging Co. of America will post 9.08 EPS for the current year.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America in the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC raised its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the period. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth $48,000. Finally, Assetmark Inc. boosted its holdings in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

(Get Free Report)

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.

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

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