Analysts Set Packaging Co. of America (NYSE:PKG) Price Target at $221.60

Packaging Co. of America (NYSE:PKG - Get Free Report) has earned an average rating of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $221.60.

A number of analysts recently issued reports on the company. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Truist Financial reissued a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday. Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Citigroup upped their target price on 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.

Packaging Co. of America Trading Down 0.7 %

NYSE PKG traded down $1.65 on Friday, reaching $225.86. 452,016 shares of the company were exchanged, compared to its average volume of 598,833. The business's fifty day moving average price is $212.04 and its 200 day moving average price is $194.25. The stock has a market capitalization of $20.28 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. 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 has a fifty-two week low of $148.50 and a fifty-two week high of $231.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. Analysts forecast that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America's payout ratio is currently 62.50%.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors have recently made changes to their positions in PKG. Register Financial Advisors LLC bought a new position in Packaging Co. of America in the 1st quarter worth approximately $25,000. Asset Dedication LLC boosted its stake in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America during the 3rd quarter valued at $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America during the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC bought a new position in Packaging Co. of America during the 1st quarter valued at $43,000. 89.78% of the stock is owned by institutional investors.

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.