Packaging Co. of America (NYSE:PKG) Given New $219.00 Price Target at Truist Financial

Packaging Co. of America (NYSE:PKG) had its target price lifted by investment analysts at Truist Financial from $215.00 to $219.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target points to a potential upside of 12.27% from the stock’s current price.

Several other analysts have also issued reports on PKG. Citigroup increased their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America raised their target price on 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. Wells Fargo & Company raised their target price on Packaging Co. of America from $191.00 to $194.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, BNP Paribas cut 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 note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Packaging Co. of America Stock Performance

Shares of PKG stock traded up $1.78 during trading on Thursday, reaching $195.06. 62,712 shares of the company’s stock were exchanged, compared to its average volume of 625,891. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $17.52 billion, a PE ratio of 24.38, a PEG ratio of 5.11 and a beta of 0.77. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $199.00. The firm’s fifty day moving average price is $184.06 and its 200-day moving average price is $179.02.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm earned $2.31 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Packaging Co. of America will post 8.5 EPS for the current year.

Insider Activity

In related news, Director Karen E. Gowland bought 300 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PKG. Norges Bank bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $163,314,000. Boston Partners increased its stake in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Packaging Co. of America by 175.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock worth $71,401,000 after acquiring an additional 279,059 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Packaging Co. of America by 1,133.4% during the 4th quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after purchasing an additional 230,422 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Packaging Co. of America by 31.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after purchasing an additional 189,401 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

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.