Truist Financial Forecasts Strong Price Appreciation for Packaging Co. of America (NYSE:PKG) Stock

Packaging Co. of America (NYSE:PKG) had its price objective increased by equities researchers at Truist Financial from $252.00 to $282.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 24.99% from the stock’s current price.

Several other research analysts have also issued reports on PKG. Citigroup raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $225.61 on Monday. The business’s 50-day simple moving average is $236.04 and its 200 day simple moving average is $214.42. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 3.34 and a beta of 0.79. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors have recently bought and sold shares of the company. Asset Dedication LLC grew its position in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America during the 3rd quarter worth about $32,000. Larson Financial Group LLC grew its holdings in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the second quarter valued at about $50,000. Finally, Assetmark Inc. raised its holdings in 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 acquiring an additional 83 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

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.