Packaging Co. of America (NYSE:PKG) Stock Price Expected to Rise, Truist Financial Analyst Says

Packaging Co. of America (NYSE:PKG - Get Free Report) had its price target hoisted by research analysts at Truist Financial from $237.00 to $239.00 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 objective indicates a potential upside of 26.44% from the company's current price.

A number of other brokerages also recently issued reports on PKG. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. UBS Group initiated coverage on shares of Packaging Co. of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price for the company. Jefferies Financial Group lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating and decreased their price target for the stock from $245.00 to $205.00 in a report on Monday. Finally, Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.83.

Packaging Co. of America Price Performance

NYSE:PKG traded down $0.43 during trading hours on Tuesday, hitting $189.03. The stock had a trading volume of 86,781 shares, compared to its average volume of 900,193. The company has a 50 day simple moving average of $189.32 and a two-hundred day simple moving average of $207.24. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 21.16, 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. Packaging Co. of America has a one year low of $172.71 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. 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 large investors have recently made changes to their positions in the business. Clearstead Trust LLC grew its holdings in shares of Packaging Co. of America by 118.6% during the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. TCTC Holdings LLC boosted its position in Packaging Co. of America by 86.4% during the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock valued at $30,000 after buying an additional 70 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Packaging Co. of America during the first quarter valued at about $39,000. Geneos Wealth Management Inc. increased its holdings in shares of Packaging Co. of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after buying an additional 57 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Packaging Co. of America in the first quarter worth about $40,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Company Profile

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.

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