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

Packaging Co. of America (NYSE:PKGGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently issued reports on the company. Citigroup increased their target price on Packaging Co. of America from $123.00 to $130.00 in a report on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Packaging Co. of America from $104.00 to $99.00 in a research note on Thursday, October 27th. Bank of America downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $146.00 to $139.00 in a research report on Thursday, December 15th. Truist Financial cut their price objective on shares of Packaging Co. of America from $175.00 to $152.00 and set a “buy” rating for the company in a research report on Thursday, September 29th. Finally, Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $124.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, January 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and an average price target of $135.22.

Packaging Co. of America Stock Down 0.4 %

NYSE PKG opened at $135.40 on Friday. The firm has a market cap of $12.53 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. Packaging Co. of America has a one year low of $110.56 and a one year high of $168.50. The stock’s 50 day simple moving average is $131.12 and its 200 day simple moving average is $130.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.02 and a quick ratio of 1.99.

Packaging Co. of America (NYSE:PKGGet Rating) last posted its quarterly earnings results on Monday, October 24th. The industrial products company reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. Packaging Co. of America had a return on equity of 28.32% and a net margin of 12.09%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.69 EPS. As a group, sell-side analysts forecast that Packaging Co. of America will post 11.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently bought and sold shares of PKG. Vanguard Group Inc. grew its position in Packaging Co. of America by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company’s stock worth $1,880,777,000 after purchasing an additional 161,559 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Packaging Co. of America by 1.3% during the 3rd quarter. BlackRock Inc. now owns 8,703,936 shares of the industrial products company’s stock valued at $977,364,000 after buying an additional 115,784 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Packaging Co. of America by 9.0% during the 1st quarter. Bank of America Corp DE now owns 4,216,929 shares of the industrial products company’s stock valued at $658,306,000 after buying an additional 346,910 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Packaging Co. of America by 13.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,713,547 shares of the industrial products company’s stock valued at $510,612,000 after buying an additional 450,466 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Packaging Co. of America by 2.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,135,725 shares of the industrial products company’s stock worth $352,110,000 after purchasing an additional 70,908 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Packaging Co. of America Company Profile

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

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

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