Packaging Co. of America (NYSE:PKG) Upgraded to “Buy” by StockNews.com

Packaging Co. of America (NYSE:PKG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

PKG has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial increased their price target on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.00.

Packaging Co. of America Price Performance

PKG opened at $228.65 on Tuesday. The firm has a market cap of $20.54 billion, a P/E ratio of 28.55, a PEG ratio of 4.33 and a beta of 0.77. The firm has a 50-day moving average of $210.13 and a 200 day moving average of $193.45. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a fifty-two week low of $145.02 and a fifty-two week high of $231.30.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results 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. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. On average, research analysts expect that Packaging Co. of America will post 8.73 EPS for the current year.

Institutional Investors Weigh In On Packaging Co. of America

A number of institutional investors and hedge funds have recently bought and sold shares of PKG. Quadrature Capital Ltd purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $339,000. Park Avenue Securities LLC grew its position in Packaging Co. of America by 7.3% during the first quarter. Park Avenue Securities LLC now owns 4,327 shares of the industrial products company’s stock valued at $821,000 after acquiring an additional 293 shares during the last quarter. GoalVest Advisory LLC bought a new position in Packaging Co. of America during the first quarter valued at approximately $66,000. Wealthcare Advisory Partners LLC bought a new position in Packaging Co. of America during the first quarter valued at approximately $377,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Packaging Co. of America by 5.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock valued at $5,165,000 after acquiring an additional 1,421 shares during the last quarter. 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.