Packaging Co. of America (NYSE:PKG) Raised 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 research note issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Truist Financial reaffirmed a "buy" rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company cut their price objective on shares of 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. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $233.00.

Remove Ads

Packaging Co. of America Price Performance

NYSE:PKG traded up $1.87 during mid-day trading on Friday, reaching $199.89. 669,857 shares of the company were exchanged, compared to its average volume of 673,182. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $17.95 billion, a PE ratio of 22.38, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a fifty day moving average of $208.82 and a 200 day moving average of $222.13.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Institutional Trading of Packaging Co. of America

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $44,000. Lazard Asset Management LLC increased its stake in Packaging Co. of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after purchasing an additional 186 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth approximately $48,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Company Profile

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.