Truist Financial Lowers Packaging Co. of America (NYSE:PKG) Price Target to $238.00

Packaging Co. of America (NYSE:PKG - Get Free Report) had its price target cut by equities research analysts at Truist Financial from $265.00 to $238.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price target would suggest a potential upside of 28.76% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.60.

Packaging Co. of America Stock Down 2.1 %

PKG stock traded down $3.87 during midday trading on Tuesday, hitting $184.84. The stock had a trading volume of 679,566 shares, compared to its average volume of 698,337. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The business has a 50-day moving average of $196.03 and a two-hundred day moving average of $218.14. Packaging Co. of America has a 52-week low of $172.37 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. As a group, equities research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PKG. Fortitude Family Office LLC lifted its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Packaging Co. of America during the 1st quarter valued at $39,000. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth $44,000. Lazard Asset Management LLC raised its holdings in Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 186 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.