Packaging Co. of America (NYSE:PKG) Stock Rating Upgraded by Jefferies Financial Group

Packaging Co. of America (NYSE:PKG) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Wednesday, Marketbeat reports. The firm presently has a $280.00 target price on the industrial products company’s stock, up from their previous target price of $215.00. Jefferies Financial Group’s target price suggests a potential upside of 23.10% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Wells Fargo & Company raised their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup upped their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $231.33.

Packaging Co. of America Trading Down 0.8 %

Shares of PKG stock opened at $227.46 on Wednesday. The business has a 50-day moving average of $234.92 and a 200 day moving average of $210.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The stock has a market capitalization of $20.43 billion, a PE ratio of 26.51, a P/E/G ratio of 3.34 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insider Activity

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $32,000. Larson Financial Group LLC grew its holdings in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Asset Dedication LLC increased its position in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America during the 2nd quarter valued at $33,000. Finally, Assetmark Inc. boosted its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares in the last quarter. 89.78% of the stock is currently 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.