Packaging Co. of America (NYSE:PKG) Stock Rating Reaffirmed by Truist Financial

Packaging Co. of America (NYSE:PKG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Truist Financial in a research note issued on Thursday, Benzinga reports. They currently have a $252.00 price target on the industrial products company’s stock, up from their prior price target of $242.00. Truist Financial’s price target would indicate a potential upside of 11.57% from the stock’s current price.

A number of other brokerages have also issued reports on PKG. Citigroup raised their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Trading Down 0.7 %

Shares of PKG opened at $225.86 on Thursday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 28.23, a P/E/G ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $231.30. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $212.04 and a 200 day moving average price of $194.18.

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 for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Sell-side analysts forecast that Packaging Co. of America will post 8.77 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America during the first quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the 3rd quarter worth about $32,000. Asset Dedication LLC lifted its holdings in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the last quarter. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the 2nd quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the 1st quarter valued at approximately $43,000. 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.