Packaging Co. of America (NYSE:PKG) Upgraded to Buy at StockNews.com

Packaging Co. of America (NYSE:PKG - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

A number of other equities analysts have also commented on PKG. Truist Financial raised their target price on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on Packaging Co. of America from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and a consensus target price of $216.00.

Packaging Co. of America Trading Down 1.1 %

Packaging Co. of America stock traded down $2.44 during mid-day trading on Tuesday, hitting $216.66. The company's stock had a trading volume of 688,541 shares, compared to its average volume of 596,378. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The company has a 50 day moving average of $209.69 and a 200-day moving average of $193.25. Packaging Co. of America has a one year low of $143.82 and a one year high of $222.98. The stock has a market cap of $19.46 billion, a PE ratio of 27.18, a P/E/G ratio of 4.33 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Packaging Co. of America will post 8.73 EPS for the current year.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company's stock, valued at approximately $5,012,794.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the firm's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Packaging Co. of America

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

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.

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