Packaging Corporation of America (NYSE:PKG) Stock Price Expected to Rise, Truist Financial Analyst Says

Packaging Corporation of America (NYSE:PKG) had its price target lifted by Truist Financial from $237.00 to $239.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 28.37% from the stock’s previous close.

A number of other research analysts also recently commented on PKG. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and reduced their price objective for the company from $245.00 to $205.00 in a research note on Monday. Wells Fargo & Company restated an “equal weight” rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Wall Street Zen downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Finally, UBS Group assumed coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price objective for the company. Five 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $211.80.

Packaging Corporation of America Trading Down 0.1%

Shares of PKG opened at $186.19 on Tuesday. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82. The stock has a 50-day moving average price of $189.19 and a 200 day moving average price of $206.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. The company has a market capitalization of $16.75 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.47 and a beta of 0.84.

Packaging Corporation of America (NYSE:PKG) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The company 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%. Sell-side analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PKG. Asset Management One Co. Ltd. grew its stake in Packaging Corporation of America by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,704 shares of the industrial products company’s stock worth $9,016,000 after buying an additional 514 shares during the last quarter. Principal Securities Inc. grew its position in shares of Packaging Corporation of America by 38.9% during the fourth quarter. Principal Securities Inc. now owns 1,806 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 506 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Packaging Corporation of America by 26.0% in the 4th quarter. Allworth Financial LP now owns 393 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 81 shares during the period. J.W. Cole Advisors Inc. increased its holdings in shares of Packaging Corporation of America by 19.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,084 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 333 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Packaging Corporation of America by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 463,899 shares of the industrial products company’s stock valued at $104,445,000 after purchasing an additional 3,381 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

About Packaging Corporation 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.