Packaging Co. of America (NYSE:PKG) Downgraded by StockNews.com

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

PKG has been the subject of a number of other research reports. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Citigroup upped 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. Finally, Truist Financial upped their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Trading Down 0.2 %

Shares of Packaging Co. of America stock opened at $178.23 on Friday. The company has a market capitalization of $16.00 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $180.99 and a 200 day simple moving average of $167.30. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27.

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

Insider Activity

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the 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 sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the 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 sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock valued at $6,799,177 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at about $25,000. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 1st quarter valued at about $25,000. Clear Street Markets LLC raised its holdings in shares of Packaging Co. of America by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 88 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $28,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

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.