Packaging Co. of America (NYSE:PKG) Earns Buy Rating from Truist Financial

Packaging Co. of America (NYSE:PKG - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Truist Financial in a research note issued to investors on Thursday, Benzinga reports. They presently have a $252.00 price objective on the industrial products company's stock, up from their previous price objective of $242.00. Truist Financial's target price indicates a potential upside of 10.76% from the company's previous close.

Several other brokerages also recently commented on PKG. 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. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of "Moderate Buy" and an average price target of $221.60.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $1.14 during trading on Thursday, reaching $227.51. The company's stock had a trading volume of 729,434 shares, compared to its average volume of 473,058. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52 week low of $147.25 and a 52 week high of $231.30. The business's 50-day moving average price is $210.82 and its 200-day moving average price is $193.70. The firm has a market cap of $20.43 billion, a PE ratio of 26.52, a P/E/G ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating 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 firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the firm earned $2.05 EPS. The company's quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts forecast that Packaging Co. of America will post 8.77 earnings per share for the current year.

Institutional Trading of Packaging Co. of America

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