Packaging Co. of America (NYSE:PKG) Given New $238.00 Price Target at Truist Financial

Packaging Co. of America (NYSE:PKG) had its price target decreased by investment analysts at Truist Financial from $265.00 to $238.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 28.11% from the stock’s current price.

Other analysts also recently issued reports about the company. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Finally, Citigroup raised their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $232.40.

Packaging Co. of America Trading Up 2.0 %

Packaging Co. of America stock traded up $3.71 during trading on Tuesday, hitting $185.78. The company had a trading volume of 464,367 shares, compared to its average volume of 691,441. The stock has a market cap of $16.71 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company’s 50 day simple moving average is $198.12 and its 200-day simple moving average is $218.97.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. 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 acquiring 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 grew its position in shares of Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock worth $45,000 after buying an additional 186 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at $48,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $63,000. 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.