Packaging Co. of America (NYSE:PKG) Lifted to Buy at StockNews.com

Packaging Co. of America (NYSE:PKG - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.

PKG has been the subject of several other research reports. Seaport Res Ptn downgraded shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. Truist Financial raised their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a "buy" rating in a research report on Thursday, January 4th. Citigroup upped their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Finally, Bank of America upgraded Packaging Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $169.50.

Packaging Co. of America Price Performance

Shares of PKG traded down $1.54 during trading hours on Thursday, hitting $186.28. 432,929 shares of the company were exchanged, compared to its average volume of 669,825. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The company has a market capitalization of $16.72 billion, a PE ratio of 21.97, a PEG ratio of 4.66 and a beta of 0.78. The firm has a fifty day simple moving average of $179.40 and a 200-day simple moving average of $166.33. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.83 by $0.30. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. Packaging Co. of America's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 earnings per share. As a group, sell-side analysts predict that Packaging Co. of America will post 8.18 earnings per share for the current year.

Insider Buying and Selling at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 13,850 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares of the company's stock, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock worth $6,799,177 over the last ninety days. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Packaging Co. of America by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company's stock worth $1,880,777,000 after acquiring an additional 161,559 shares during the period. BlackRock Inc. increased its holdings in Packaging Co. of America by 1.7% in the 1st quarter. BlackRock Inc. now owns 9,048,220 shares of the industrial products company's stock valued at $1,256,164,000 after buying an additional 151,624 shares during the period. State Street Corp raised its stake in shares of Packaging Co. of America by 16.8% in the 1st quarter. State Street Corp now owns 4,607,784 shares of the industrial products company's stock valued at $645,404,000 after buying an additional 663,047 shares in the last quarter. FIL Ltd lifted its holdings in shares of Packaging Co. of America by 2.6% during the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company's stock worth $360,031,000 after acquiring an additional 55,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Packaging Co. of America by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company's stock valued at $335,772,000 after acquiring an additional 11,536 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.