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

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKGFree Report) from a hold rating to a buy rating in a report published on Tuesday.

PKG has been the topic of a number of other research reports. Bank of America upgraded Packaging Co. of America from a neutral rating to a buy rating and lifted their target price for the company from $172.00 to $202.00 in a research report on Monday, March 4th. BNP Paribas downgraded Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Seaport Res Ptn downgraded Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. Citigroup cut their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an equal weight rating to an overweight rating and upped their price target for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $173.57.

View Our Latest Research Report on PKG

Packaging Co. of America Stock Performance

PKG opened at $181.85 on Tuesday. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The business’s fifty day moving average is $181.93 and its 200-day moving average is $171.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The firm has a market cap of $16.33 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 4.43 and a beta of 0.80.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm earned $2.20 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Packaging Co. of America will post 8.27 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $25,000. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the first quarter worth $25,000. Neo Ivy Capital Management purchased a new position in Packaging Co. of America in the fourth quarter worth $28,000. First Horizon Advisors Inc. grew its stake in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Finally, Gables Capital Management Inc. purchased a new stake in shares of Packaging Co. of America during the 4th quarter valued at $31,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Packaging Co. of America (NYSE:PKG)

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