Packaging Co. of America (NYSE:PKG) PT Raised to $253.00

Packaging Co. of America (NYSE:PKG) had its price objective raised by stock analysts at Wells Fargo & Company from $235.00 to $253.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.89% from the stock’s previous close.

A number of other research analysts also recently weighed in on PKG. Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial upped their price objective on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.60.

Packaging Co. of America Stock Performance

NYSE:PKG traded down $0.49 during mid-day trading on Thursday, reaching $228.16. 24,756 shares of the company’s stock were exchanged, compared to its average volume of 596,042. Packaging Co. of America has a one year low of $147.25 and a one year high of $231.30. The business’s fifty day simple moving average is $210.82 and its two-hundred day simple moving average is $193.70. The firm has a market capitalization of $20.49 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The business 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 9.06% and a return on equity of 18.21%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Analysts anticipate that Packaging Co. of America will post 8.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently bought and sold shares of PKG. Victory Capital Management Inc. increased its stake in Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after acquiring an additional 41,903 shares during the last quarter. Boston Partners grew its position in Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after acquiring an additional 477,487 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after acquiring an additional 86,005 shares during the last quarter. Millennium Management LLC raised its position in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after purchasing an additional 262,315 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Packaging Co. of America by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after buying an additional 42,465 shares during the last quarter. Hedge funds and other 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.