Packaging Co. of America (NYSE:PKG) Stock Rating Upgraded by Wells Fargo & Company

Packaging Co. of America (NYSE:PKG) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $191.00 price target on the industrial products company’s stock, up from their prior price target of $187.00. Wells Fargo & Company‘s price target indicates a potential upside of 11.77% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Truist Financial upped their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $173.86.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $170.88 on Wednesday. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27. The firm’s 50 day moving average is $181.56 and its 200-day moving average is $168.02. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 4.35 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. Packaging Co. of America’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Sell-side analysts forecast that Packaging Co. of America will post 8.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Packaging Co. of America by 19,323.7% in the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after acquiring an additional 30,145 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth about $16,338,000. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Packaging Co. of America by 60.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock worth $771,000 after buying an additional 1,890 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Packaging Co. of America by 75.0% during the 3rd quarter. Acadian Asset Management LLC now owns 15,884 shares of the industrial products company’s stock worth $2,436,000 after buying an additional 6,809 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Packaging Co. of America by 90.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock worth $2,188,000 after buying an additional 6,368 shares during the last quarter. Institutional investors and hedge funds 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.