Wells Fargo & Company Increases Packaging Co. of America (NYSE:PKG) Price Target to $215.00

Packaging Co. of America (NYSE:PKG) had its price target increased by analysts at Wells Fargo & Company from $194.00 to $215.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 10.23% from the stock’s current price.

Other research analysts have also recently issued reports about the company. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a report on Friday, April 12th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Citigroup boosted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Truist Financial raised their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.50.

Packaging Co. of America Price Performance

Shares of PKG traded up $1.77 during mid-day trading on Thursday, reaching $195.05. The stock had a trading volume of 321,347 shares, compared to its average volume of 627,817. The business has a fifty day moving average of $184.06 and a 200 day moving average of $179.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 5.11 and a beta of 0.77. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $199.00.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. Packaging Co. of America’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. Equities analysts predict that Packaging Co. of America will post 8.5 EPS for the current year.

Insider Activity

In related news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently bought and sold shares of the stock. FIL Ltd raised its stake in shares of Packaging Co. of America by 2.6% in the fourth quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after acquiring an additional 55,000 shares during the period. Boston Partners grew its holdings in Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares during the last quarter. Northern Trust Corp raised its position in Packaging Co. of America by 2.4% in the 4th quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after purchasing an additional 27,974 shares during the period. Norges Bank bought a new stake in Packaging Co. of America in the fourth quarter worth about $163,314,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Packaging Co. of America by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock valued at $165,962,000 after buying an additional 5,842 shares during the period. 89.78% of the stock is currently owned by institutional investors.

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.