Packaging Corporation of America (NYSE:PKG) Stock Price Expected to Rise, UBS Group Analyst Says

Packaging Corporation of America (NYSE:PKG) had its price target boosted by research analysts at UBS Group from $210.00 to $220.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price points to a potential upside of 10.70% from the stock’s current price.

PKG has been the topic of a number of other reports. Jefferies Financial Group downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating and cut their price target for the company from $245.00 to $205.00 in a report on Monday, June 16th. Wells Fargo & Company boosted their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Citigroup boosted their target price on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Truist Financial decreased their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating for the company in a report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $215.40.

Packaging Corporation of America Trading Down 2.1%

PKG opened at $198.73 on Tuesday. The stock’s fifty day moving average is $196.46 and its two-hundred day moving average is $200.07. The company has a market capitalization of $17.88 billion, a P/E ratio of 19.83, a PEG ratio of 2.39 and a beta of 0.82. Packaging Corporation of America has a 52 week low of $172.71 and a 52 week high of $250.82. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the business posted $2.20 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Hedge Funds Weigh In On Packaging Corporation of America

Large investors have recently bought and sold shares of the business. Clearstead Trust LLC raised its holdings in Packaging Corporation of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 70 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Packaging Corporation of America by 72.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 136 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 57 shares during the period. TCTC Holdings LLC raised its holdings in Packaging Corporation of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 70 shares during the period. Trust Co. of Toledo NA OH acquired a new position in Packaging Corporation of America in the 2nd quarter worth about $33,000. Finally, Alpine Bank Wealth Management acquired a new position in Packaging Corporation of America in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Company Profile

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.