Packaging Co. of America (NYSE:PKG) PT Lowered to $181.00

Packaging Co. of America (NYSE:PKG) had its price target decreased by Citigroup from $183.00 to $181.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 4.72% from the company’s previous close.

PKG has been the subject of a number of other reports. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $172.00 to $202.00 in a report on Monday, March 4th. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $191.00 in a research note on Wednesday. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Finally, Truist Financial raised their target price on shares of 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Stock Up 0.9 %

Shares of Packaging Co. of America stock opened at $172.85 on Thursday. The company has a market cap of $15.51 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 4.22 and a beta of 0.78. The company’s 50 day moving average is $181.92 and its 200 day moving average is $168.21. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. 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 (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Packaging Co. of America will post 8.24 EPS for the current year.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock worth $6,799,177 over the last 90 days. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors have recently made changes to their positions in the company. FIL Ltd lifted its holdings in shares of Packaging Co. of America by 2.6% in the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock worth $360,031,000 after acquiring an additional 55,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Packaging Co. of America by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after buying an additional 11,536 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Packaging Co. of America by 4.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company’s stock valued at $205,389,000 after buying an additional 58,444 shares in the last quarter. Northern Trust Corp lifted its holdings in Packaging Co. of America by 2.4% during the 4th quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after buying an additional 27,974 shares in the last quarter. Finally, Norges Bank bought a new stake in Packaging Co. of America during the 4th quarter valued at about $163,314,000. 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.