Packaging Co. of America (NYSE:PKG) PT Raised to $221.00 at Citigroup

Packaging Co. of America (NYSE:PKG) had its price objective lifted by equities researchers at Citigroup from $199.00 to $221.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price would indicate a potential upside of 4.26% from the stock’s previous close.

PKG has been the topic of a number of other reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Truist Financial raised their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Bank of America boosted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $196.17.

Packaging Co. of America Price Performance

NYSE:PKG opened at $211.98 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69. The stock’s 50-day moving average price is $204.15 and its 200-day moving average price is $190.40. The stock has a market capitalization of $19.04 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. As a group, equities analysts expect that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Packaging Co. of America

Large investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. boosted its position in shares of Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after purchasing an additional 54 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 56 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Packaging Co. of America by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 59 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Company Profile

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.