Packaging Corporation of America (NYSE:PKG) Stock Has Average Price Target of $271.86 According to Analysts

Packaging Corporation of America (NYSE:PKG) has received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $275.43.

Several equities research analysts have issued reports on PKG shares. Truist Financial reissued a “buy” rating and issued a $294.00 price objective (up from $280.00) on shares of Packaging Corporation of America in a research report on Friday, October 23rd. Bank of America reduced their target price on shares of Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, September 11th. JPMorgan Chase & Co. lifted their price target on shares of Packaging Corporation of America from $320.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Wells Fargo & Company decreased their price target on shares of Packaging Corporation of America from $246.00 to $245.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Finally, Citigroup boosted their price target on Packaging Corporation of America from $253.00 to $262.00 and gave the company a “neutral” rating in a report on Monday.

Packaging Corporation of America Stock Performance

Shares of Packaging Corporation of America stock opened at $248.74 on Thursday. The company has a quick ratio of 1.86, a current ratio of 2.94 and a debt-to-equity ratio of 0.85. The stock’s fifty day moving average is $237.29 and its two-hundred day moving average is $229.09. Packaging Corporation of America has a 52 week low of $191.50 and a 52 week high of $259.98. The company has a market capitalization of $22.16 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.98 and a beta of 0.75.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, October 21st. The industrial products company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.11. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.61 billion. Packaging Corporation of America had a return on equity of 19.63% and a net margin of 7.40%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $2.73 earnings per share. As a group, analysts expect that Packaging Corporation of America will post 10.56 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 73.89%.

Insiders Place Their Bets

In other Packaging Corporation of America news, President Thomas Hassfurther sold 7,063 shares of Packaging Corporation of America stock in a transaction on Friday, August 7th. The stock was sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following the completion of the sale, the president directly owned 202,891 shares of the company’s stock, valued at $51,534,314. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald Shirley sold 12,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $250.71, for a total value of $3,008,520.00. Following the completion of the sale, the vice president owned 19,110 shares of the company’s stock, valued at $4,791,068.10. This represents a 38.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,391 shares of company stock valued at $10,196,101. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Packaging Corporation of America

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new position in shares of Packaging Corporation of America during the second quarter valued at about $1,001,000. PNC Financial Services Group Inc. raised its position in shares of Packaging Corporation of America by 7.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 73,669 shares of the industrial products company’s stock valued at $15,634,000 after purchasing an additional 5,355 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Packaging Corporation of America by 29.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 50,737 shares of the industrial products company’s stock worth $12,092,000 after purchasing an additional 11,540 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Packaging Corporation of America in the 2nd quarter worth approximately $3,449,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Packaging Corporation of America in the 2nd quarter worth approximately $4,402,000. 89.78% of the stock is currently owned by institutional investors.

About Packaging Corporation of America

Packaging Corporation of America (NYSE:PKG) is a manufacturer of corrugated packaging and containerboard products serving businesses primarily in the United States. Its products include shipping boxes, retail packaging, displays, protective packaging and specialty corrugated solutions used to transport and present a broad range of consumer and industrial goods.

The company also produces uncoated freesheet paper and related paper products for commercial printing, office use, publishing, converting and other applications.