Packaging Corporation of America (NYSE:PKG) Price Target Raised to $239.00 at Truist Financial

Packaging Corporation of America (NYSE:PKG) had its price target raised by Truist Financial from $237.00 to $239.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. UBS Group started coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price target for the company. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and lowered their price target for the company from $245.00 to $205.00 in a report on Monday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Packaging Corporation of America has a consensus rating of “Hold” and a consensus target price of $211.80.

Packaging Corporation of America Price Performance

Shares of NYSE PKG opened at $186.35 on Tuesday. Packaging Corporation of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a 50 day simple moving average of $189.25 and a two-hundred day simple moving average of $207.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America’s payout ratio is presently 52.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PKG. Clearstead Trust LLC lifted its position in shares of Packaging Corporation of America by 118.6% in the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. TCTC Holdings LLC boosted its position in Packaging Corporation of America by 86.4% during the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 70 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in Packaging Corporation of America in the 1st quarter valued at about $39,000. Geneos Wealth Management Inc. lifted its stake in Packaging Corporation of America by 40.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Packaging Corporation of America in the 1st quarter worth approximately $40,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

About Packaging Corporation of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.