Packaging Corporation of America (NYSE:PKG) Given New $210.00 Price Target at UBS Group

Packaging Corporation of America (NYSE:PKG - Free Report) had its price objective upped by UBS Group from $200.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company's stock.

A number of other research firms have also weighed in on PKG. Truist Financial raised their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen lowered Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price target for the company from $245.00 to $205.00 in a research report on Monday, June 16th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $217.80.

Packaging Corporation of America Trading Up 1.6%

NYSE PKG traded up $3.18 during trading hours on Wednesday, hitting $207.26. 526,103 shares of the company's stock were exchanged, compared to its average volume of 746,282. The stock has a 50-day simple moving average of $191.63 and a 200 day simple moving average of $202.49. Packaging Corporation of America has a 1-year low of $172.72 and a 1-year high of $250.82. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.68 and a beta of 0.82. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. On average, equities analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's dividend payout ratio is presently 52.30%.

Institutional Investors Weigh In On Packaging Corporation of America

Several institutional investors have recently bought and sold shares of PKG. Clearstead Trust LLC lifted its holdings 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 worth $26,000 after buying an additional 70 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in Packaging Corporation of America by 72.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 136 shares of the industrial products company's stock worth $26,000 after buying an additional 57 shares during the period. TCTC Holdings LLC lifted its holdings in Packaging Corporation of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock worth $30,000 after buying an additional 70 shares during the period. Alpine Bank Wealth Management purchased a new stake in Packaging Corporation of America in the 1st quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Packaging Corporation of America by 40.4% in the 1st 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. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Corporation 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.