Packaging Co. of America (NYSE:PKG) Given Consensus Rating of “Reduce” by Brokerages

Posted by on Aug 29th, 2023

Packaging Co. of America (NYSE:PKG – Get Free Report) has been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $131.50.

Several analysts recently commented on PKG shares. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $122.00 to $137.00 in a research note on Thursday, July 27th. Truist Financial lifted their target price on Packaging Co. of America from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. StockNews.com initiated coverage on Packaging Co. of America in a report on Thursday, August 17th. They set a “hold” rating for the company. Bank of America decreased their price target on Packaging Co. of America from $145.00 to $138.00 in a research report on Monday, July 10th. Finally, Citigroup increased their price target on Packaging Co. of America from $128.00 to $148.00 in a research report on Thursday, July 27th.

View Our Latest Stock Report on Packaging Co. of America

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Bruce A. Ridley sold 3,493 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $155.22, for a total transaction of $542,183.46. Following the completion of the sale, the senior vice president now directly owns 14,034 shares in the company, valued at approximately $2,178,357.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Bruce A. Ridley sold 3,493 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $155.22, for a total transaction of $542,183.46. Following the completion of the sale, the senior vice president now directly owns 14,034 shares of the company’s stock, valued at approximately $2,178,357.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $156.14, for a total value of $780,700.00. Following the sale, the senior vice president now directly owns 22,967 shares of the company’s stock, valued at $3,586,067.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,783 shares of company stock worth $9,023,216. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. DT Investment Partners LLC raised its stake in shares of Packaging Co. of America by 0.9% during the 2nd quarter. DT Investment Partners LLC now owns 7,998 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 75 shares in the last quarter. Comerica Bank purchased a new stake in shares of Packaging Co. of America during the 2nd quarter worth about $11,128,000. Imprint Wealth LLC bought a new position in shares of Packaging Co. of America in the 2nd quarter valued at approximately $2,802,000. Resources Management Corp CT ADV raised its stake in shares of Packaging Co. of America by 1,241.6% in the 2nd quarter. Resources Management Corp CT ADV now owns 17,186 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 15,905 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its stake in shares of Packaging Co. of America by 98.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 16,435 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 8,147 shares in the last quarter. 90.53% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $147.82 on Tuesday. Packaging Co. of America has a 1 year low of $110.56 and a 1 year high of $158.66. The firm has a market cap of $13.29 billion, a P/E ratio of 15.63, a PEG ratio of 3.58 and a beta of 0.90. The stock has a fifty day moving average price of $141.50 and a two-hundred day moving average price of $137.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.10 and a current ratio of 3.35.

Packaging Co. of America (NYSE:PKG – Get Free Report) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.38. Packaging Co. of America had a return on equity of 23.30% and a net margin of 10.79%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the business posted $3.23 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Research analysts forecast that Packaging Co. of America will post 8.15 EPS for the current fiscal year.

Packaging Co. of America Company Profile

(Get Free Report

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

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Analyst Recommendations for Packaging Co. of America (NYSE:PKG)

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