Packaging Corporation of America (NYSE:PKG) Price Target Raised to $220.00 at UBS Group

Key Points

• UBS Group raised its price target for Packaging Corporation of America from $210.00 to $220.00, implying a potential upside of 7.79% from the stock's previous close.
• An overall consensus rating for Packaging Corporation of America stands at "Hold", with several analysts adjusting their target prices and ratings, leading to increased scrutiny from investors.
• The company reported a quarterly earnings per share of $2.48, surpassing analyst expectations, despite revenue slightly missing forecasts at $2.17 billion.

Packaging Corporation of America (NYSE:PKG - Get Free Report) had its price target raised by analysts at UBS Group from $210.00 to $220.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. UBS Group's price target would indicate a potential upside of 13.64% from the company's previous close.

A number of other equities research analysts also recently issued reports on PKG. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price target for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Citigroup increased their price objective on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Wall Street Zen downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Truist Financial reduced their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Wells Fargo & Company lifted their price target on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $215.40.

Packaging Corporation of America Stock Down 2.4%

NYSE PKG traded down $4.83 during trading hours on Tuesday, hitting $193.60. 1,144,468 shares of the company traded hands, compared to its average volume of 637,357. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. The business's 50-day moving average is $196.48 and its 200-day moving average is $199.82. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 2.33 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. During the same period in the previous year, the firm earned $2.20 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Institutional Investors Weigh In On Packaging Corporation of America

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearstead Trust LLC increased its position in Packaging Corporation of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after buying an additional 70 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in Packaging Corporation of America by 72.2% in the second quarter. Bruce G. Allen Investments LLC now owns 136 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 57 shares during the period. TCTC Holdings LLC increased its holdings in shares of Packaging Corporation 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 acquiring an additional 70 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Packaging Corporation of America during the second quarter worth approximately $33,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Packaging Corporation of America in the 1st quarter worth $39,000. 89.78% of the stock is owned by institutional investors.

About Packaging Corporation 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.