Packaging Co. of America (NYSE:PKG) Upgraded at StockNews.com

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

Other research analysts have also recently issued reports about the company. Wells Fargo & Company raised Packaging Co. of America from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Bank of America raised Packaging Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. Seaport Res Ptn cut Packaging Co. of America from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. BNP Paribas cut Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price objective for the company. in a report on Friday, April 12th. Finally, Citigroup cut their price target on Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $173.57.

Packaging Co. of America Stock Performance

PKG traded up $0.29 during trading on Tuesday, reaching $181.85. 556,631 shares of the company's stock were exchanged, compared to its average volume of 665,969. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $181.93 and a 200 day moving average price of $171.74. The company has a market capitalization of $16.33 billion, a P/E ratio of 22.73, a PEG ratio of 4.43 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG - Get Free Report) 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 firm had revenue of $1.98 billion for 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 18.80%. The business's revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. As a group, analysts predict that Packaging Co. of America will post 8.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Karen E. Gowland acquired 300 shares of the company's stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now owns 916 shares of the company's stock, valued at approximately $166,766.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares of the company's stock, valued at approximately $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen E. Gowland bought 300 shares of the firm's stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the transaction, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The disclosure for this purchase can be found here. In the last three months, insiders sold 38,041 shares of company stock valued at $6,799,177. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors have recently modified their holdings of PKG. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Packaging Co. of America during the 3rd quarter worth about $25,000. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America during the 1st quarter worth about $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America during the 4th quarter worth about $28,000. First Horizon Advisors Inc. grew its position in shares of Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 69 shares during the period. Finally, Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $31,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.

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