Packaging Co. of America (NYSE:PKG - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Sunday.
A number of other equities analysts have also commented on PKG. Truist Financial restated a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $228.50.
Check Out Our Latest Analysis on Packaging Co. of America
Packaging Co. of America Stock Performance
PKG stock traded down $3.65 during trading hours on Friday, hitting $185.79. 1,100,183 shares of the stock were exchanged, compared to its average volume of 696,550. The company has a 50-day simple moving average of $201.21 and a two-hundred day simple moving average of $220.24. The firm has a market capitalization of $16.71 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after acquiring an additional 133,575 shares during the period. State Street Corp increased its holdings in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock valued at $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. raised its position in Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after purchasing an additional 132,836 shares during the last quarter. Geode Capital Management LLC raised its position in Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock worth $531,540,000 after purchasing an additional 29,427 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Packaging Co. of America by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after buying an additional 14,775 shares during the period. Institutional investors own 89.78% of the company's stock.
About Packaging Co. of America
(
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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.
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