Packaging Co. of America (NYSE:PKG) Stock Price Expected to Rise, Truist Financial Analyst Says

Packaging Co. of America (NYSE:PKG) had its target price hoisted by research analysts at Truist Financial from $252.00 to $282.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 24.99% from the stock’s previous close.

PKG has been the topic of several other reports. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Citigroup increased their target price 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. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Stock Performance

PKG opened at $225.61 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The business has a 50 day moving average of $236.04 and a 200-day moving average of $214.42. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.34 and a beta of 0.79.

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

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $244.91, for a total value 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 represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after purchasing an additional 536,389 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after buying an additional 262,315 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after acquiring an additional 249,483 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after acquiring an additional 142,400 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.