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

Packaging Corporation of America (NYSE:PKG - Free Report) had its target price boosted by UBS Group from $200.00 to $210.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of 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. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Truist Financial upped their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. 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 stock. According to data from MarketBeat.com, Packaging Corporation of America currently has an average rating of "Hold" and an average target price of $213.80.

Packaging Corporation of America Trading Up 0.7%

Shares of PKG stock traded up $1.38 during mid-day trading on Wednesday, reaching $204.15. The stock had a trading volume of 738,306 shares, compared to its average volume of 746,646. The stock's 50-day moving average price is $191.63 and its two-hundred day moving average price is $202.49. Packaging Corporation of America has a 52-week low of $172.72 and a 52-week high of $250.82. The firm has a market capitalization of $18.37 billion, a PE ratio of 21.35, a price-to-earnings-growth 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, beating the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. Equities analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.45%. Packaging Corporation of America's dividend payout ratio is presently 52.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Distillate Capital Partners LLC bought a new position in Packaging Corporation of America during the fourth quarter valued at approximately $15,828,000. Sciencast Management LP bought a new position in Packaging Corporation of America during the fourth quarter valued at approximately $2,853,000. Korea Investment CORP lifted its position in Packaging Corporation of America by 96.0% during the fourth quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock valued at $15,985,000 after purchasing an additional 34,784 shares during the period. Sowell Financial Services LLC bought a new position in Packaging Corporation of America during the first quarter valued at approximately $309,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Packaging Corporation of America by 5.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock valued at $5,671,000 after purchasing an additional 1,531 shares during the period. Institutional investors own 89.78% of the company's stock.

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.