Truist Financial Boosts Packaging Co. of America (NYSE:PKG) Price Target to $219.00

Packaging Co. of America (NYSE:PKG) had its target price lifted by Truist Financial from $215.00 to $219.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

PKG has been the topic of a number of other research reports. StockNews.com upgraded shares of Packaging Co. of America from a hold rating to a buy rating in a research note on Wednesday. Bank of America increased 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. BNP Paribas downgraded shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $191.00 to $194.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Finally, Citigroup lifted their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of Moderate Buy and an average price target of $190.50.

Packaging Co. of America Stock Up 2.5 %

NYSE:PKG opened at $199.00 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The firm’s 50-day moving average price is $184.62 and its 200-day moving average price is $179.43. The company has a market capitalization of $17.87 billion, a PE ratio of 24.88, a P/E/G ratio of 5.26 and a beta of 0.77. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $199.42.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Packaging Co. of America will post 8.62 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were given a $1.25 dividend. The ex-dividend date was Friday, June 14th. This represents a $5.00 annualized dividend and a yield of 2.51%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors have recently bought and sold shares of the stock. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America in the first quarter worth about $25,000. Neo Ivy Capital Management purchased a new stake in Packaging Co. of America in the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. raised its stake in Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. purchased a new position in Packaging Co. of America during the fourth quarter valued at approximately $31,000. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the first quarter worth approximately $43,000. 89.78% of the stock is owned by institutional investors.

About Packaging Co. of America

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.