Packaging Co. of America (NYSE:PKG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Packaging Co. of America (NYSE:PKG) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $221.60.

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Insider Buying and Selling

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $7,500,905 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently modified their holdings of PKG. Franklin Resources Inc. raised its position in Packaging Co. of America by 4.3% during the 3rd quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company’s stock valued at $28,736,000 after purchasing an additional 5,339 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Packaging Co. of America during the third quarter valued at approximately $836,000. Sanctuary Advisors LLC raised its holdings in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after acquiring an additional 2,946 shares in the last quarter. Aldebaran Financial Inc. purchased a new stake in Packaging Co. of America in the third quarter worth $215,000. Finally, Passumpsic Savings Bank purchased a new position in Packaging Co. of America during the 3rd quarter valued at $212,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

NYSE:PKG opened at $247.03 on Thursday. Packaging Co. of America has a 52-week low of $156.87 and a 52-week high of $250.82. The stock has a fifty day moving average of $226.17 and a 200 day moving average of $203.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 3.47 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, research analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

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.