Packaging Co. of America (NYSE:PKG) Rating Reiterated by Truist Financial

Truist Financial reiterated their buy rating on shares of Packaging Co. of America (NYSE:PKG) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $252.00 target price on the industrial products company’s stock, up from their previous target price of $242.00.

Several other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Citigroup upped their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Down 0.7 %

PKG stock opened at $225.86 on Thursday. 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 has a 1-year low of $148.50 and a 1-year high of $231.30. The firm has a fifty day moving average price of $212.04 and a two-hundred day moving average price of $194.25. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced 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 company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts predict that Packaging Co. of America will post 8.77 EPS for the current year.

Packaging Co. of America Dividend Announcement

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

Hedge Funds Weigh In On Packaging Co. of America

Large investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Packaging Co. of America by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after purchasing an additional 21,143 shares during the period. Summit Financial Strategies Inc. increased its holdings in shares of Packaging Co. of America by 5.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after purchasing an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after purchasing an additional 14,277 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Packaging Co. of America by 10.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after purchasing an additional 10,516 shares during the period. Institutional investors and hedge funds 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.