Packaging Co. of America (NYSE:PKG) Stock Rating Lowered by BNP Paribas

Packaging Co. of America (NYSE:PKG) was downgraded by investment analysts at BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $182.00 price objective on the industrial products company’s stock. BNP Paribas’ target price points to a potential downside of 0.11% from the company’s current price.

PKG has been the topic of a number of other reports. Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Citigroup raised their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Truist Financial raised their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Stock Down 2.2 %

PKG opened at $182.20 on Friday. The stock has a market cap of $16.35 billion, a PE ratio of 21.49, a P/E/G ratio of 4.48 and a beta of 0.78. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The business’s fifty day simple moving average is $179.81 and its 200 day simple moving average is $166.67.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.35 earnings per share. As a group, research analysts expect that Packaging Co. of America will post 8.31 earnings per share for the current fiscal year.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

A number of institutional investors and hedge funds have recently made changes to their positions in PKG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Packaging Co. of America by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock valued at $1,984,000 after purchasing an additional 787 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Packaging Co. of America by 120.3% during the first quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 2,071 shares in the last quarter. Cibc World Market Inc. bought a new stake in shares of Packaging Co. of America during the first quarter valued at approximately $693,000. Sei Investments Co. increased its position in shares of Packaging Co. of America by 3.0% during the first quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock valued at $25,356,000 after acquiring an additional 4,701 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Packaging Co. of America by 58.6% during the first quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock valued at $3,863,000 after acquiring an additional 9,145 shares in the last quarter. 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.