Packaging Co. of America (NYSE:PKG) PT Raised to $253.00

Packaging Co. of America (NYSE:PKG) had its target price boosted by equities research analysts at Wells Fargo & Company from $235.00 to $253.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 12.02% from the company’s previous close.

Several other research firms also recently weighed in on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial raised their target price on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Citigroup boosted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $225.86 on Thursday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $231.30. The business’s 50 day moving average is $212.04 and its two-hundred day moving average is $194.18. The company has a market capitalization of $20.28 billion, a P/E ratio of 28.23, a P/E/G ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (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 analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Analysts expect that Packaging Co. of America will post 8.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new position in shares of Packaging Co. of America during the 1st quarter worth $25,000. Asset Dedication LLC raised its stake in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the 2nd quarter valued at approximately $33,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

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.