Packaging Co. of America (NYSE:PKG) Price Target Cut to $181.00 by Analysts at Citigroup

Packaging Co. of America (NYSE:PKG) had its price objective reduced by Citigroup from $183.00 to $181.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 5.69% from the company’s current price.

A number of other analysts also recently weighed in on the company. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a report on Friday, April 12th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the company 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 company a “buy” rating in a research report on Thursday, January 4th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $187.00 to $191.00 in a research report on Wednesday. Finally, Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Price Performance

Shares of NYSE:PKG traded down $2.67 during trading on Thursday, hitting $171.25. 541,829 shares of the company were exchanged, compared to its average volume of 699,110. The company has a market capitalization of $15.37 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The business’s 50 day moving average is $181.73 and its 200-day moving average is $168.06. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. Packaging Co. of America’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. Equities analysts forecast that Packaging Co. of America will post 8.24 earnings per share for the current year.

Insider Activity at Packaging Co. of America

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

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Packaging Co. of America in the 3rd quarter valued at about $25,000. Register Financial Advisors LLC purchased a new stake in Packaging Co. of America in the 1st quarter valued at about $25,000. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. increased its stake in shares of Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

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.