StockNews.com Downgrades Packaging Co. of America (NYSE:PKG) to Hold

Packaging Co. of America (NYSE:PKG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial reissued a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Trading Up 0.5 %

Shares of NYSE:PKG opened at $229.99 on Friday. The company has a market cap of $20.66 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $232.98. The stock has a 50 day moving average of $214.85 and a 200 day moving average of $195.67. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities research analysts expect that Packaging Co. of America will post 9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after buying an additional 41,903 shares during the period. Boston Partners boosted its holdings in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after buying an additional 477,487 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares in the last quarter. Millennium Management LLC raised its position in shares of Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Packaging Co. of America by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after acquiring an additional 42,465 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

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.