Packaging Co. of America (NYSE:PKG) Price Target Raised to $282.00

Packaging Co. of America (NYSE:PKG - Get Free Report) had its target price lifted by equities researchers at Truist Financial from $252.00 to $282.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's target price would indicate a potential upside of 24.32% from the stock's current price.

A number of other equities research analysts have also issued reports on PKG. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, December 24th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $238.67.

Packaging Co. of America Price Performance

Packaging Co. of America stock traded up $0.96 during trading hours on Monday, hitting $226.84. The stock had a trading volume of 794,991 shares, compared to its average volume of 730,397. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.34 and a beta of 0.79. The stock's fifty day moving average is $236.05 and its two-hundred day moving average is $214.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm's revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. As a group, analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 in the last quarter. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in the business. TD Asset Management Inc boosted its position in shares of Packaging Co. of America by 5.6% in the second quarter. TD Asset Management Inc now owns 52,422 shares of the industrial products company's stock worth $9,570,000 after buying an additional 2,768 shares during the period. National Bank of Canada FI grew its position in Packaging Co. of America by 22.3% in the second quarter. National Bank of Canada FI now owns 26,605 shares of the industrial products company's stock valued at $4,789,000 after acquiring an additional 4,845 shares in the last quarter. Candriam S.C.A. grew its position in Packaging Co. of America by 18.7% in the second quarter. Candriam S.C.A. now owns 7,292 shares of the industrial products company's stock valued at $1,331,000 after acquiring an additional 1,150 shares in the last quarter. Savant Capital LLC raised its stake in shares of Packaging Co. of America by 97.7% during the second quarter. Savant Capital LLC now owns 8,027 shares of the industrial products company's stock valued at $1,465,000 after purchasing an additional 3,967 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America during the second quarter worth $50,000. Institutional investors and hedge funds own 89.78% of the company's stock.

About Packaging Co. of America

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.