Truist Financial Issues Pessimistic Forecast for Packaging Co. of America (NYSE:PKG) Stock Price

Packaging Co. of America (NYSE:PKG - Get Free Report) had its price target lowered by research analysts at Truist Financial from $265.00 to $238.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's target price would indicate a potential upside of 28.14% from the company's previous close.

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

Packaging Co. of America Trading Up 0.5 %

PKG stock traded up $0.92 during trading on Tuesday, reaching $185.74. 182,357 shares of the stock traded hands, compared to its average volume of 696,331. The firm has a market capitalization of $16.70 billion, a PE ratio of 20.82, a P/E/G ratio of 2.41 and a beta of 0.84. 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 business's 50 day moving average price is $196.03 and its 200-day moving average price is $218.15. 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 issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jackson Creek Investment Advisors LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at approximately $293,000. AlphaQuest LLC raised its holdings in Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after acquiring an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC bought a new position in Packaging Co. of America during the 4th quarter valued at $15,828,000. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America during the 4th quarter worth $6,966,000. Finally, Sciencast Management LP acquired a new position in Packaging Co. of America during the 4th quarter worth $2,853,000. 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.