Packaging Co. of America (NYSE:PKG) Downgraded by StockNews.com

Packaging Co. of America (NYSE:PKG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

PKG has been the topic of several other research reports. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Truist Financial upped their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research report on Friday, April 12th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Citigroup upped their target price on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Stock Down 0.2 %

PKG opened at $178.23 on Friday. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The firm’s fifty day moving average price is $180.99 and its two-hundred day moving average price is $167.30. The company has a market capitalization of $16.00 billion, a P/E ratio of 21.02, a P/E/G ratio of 4.32 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Packaging Co. of America will post 8.31 EPS for the current year.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Packaging Co. of America by 446.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,398 shares of the industrial products company’s stock worth $13,929,000 after purchasing an additional 59,967 shares in the last quarter. River Street Advisors LLC increased its stake in Packaging Co. of America by 1.8% during the 1st quarter. River Street Advisors LLC now owns 4,910 shares of the industrial products company’s stock worth $932,000 after purchasing an additional 86 shares in the last quarter. Guidance Capital Inc. bought a new stake in Packaging Co. of America during the 1st quarter worth approximately $905,000. Hennion & Walsh Asset Management Inc. increased its stake in Packaging Co. of America by 101.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,613 shares of the industrial products company’s stock worth $2,394,000 after purchasing an additional 6,360 shares in the last quarter. Finally, Atwater Malick LLC bought a new position in shares of Packaging Co. of America during the 1st quarter worth approximately $1,305,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.