Packaging Co. of America (NYSE:PKG) Stock Rating Upgraded by Seaport Res Ptn

Packaging Co. of America (NYSE:PKG) was upgraded by stock analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

PKG has been the subject of a number of other research reports. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Citigroup raised 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 research report on Monday, January 6th. Truist Financial reissued a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

PKG opened at $212.54 on Thursday. The company has a fifty day moving average price of $226.87 and a two-hundred day moving average price of $221.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market capitalization of $19.09 billion, a PE ratio of 23.80, a P/E/G ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 52 week low of $165.20 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts anticipate that Packaging Co. of America will post 10.6 earnings per share for the current year.

Insider Transactions at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Packaging Co. of America

Several hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC grew its stake in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Assetmark Inc. increased its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

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.