Packaging Corporation of America (NYSE:PKG) Price Target Raised to $262.00

Packaging Corporation of America (NYSE:PKG) had its price objective raised by research analysts at Citigroup from $253.00 to $262.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup‘s price target indicates a potential upside of 4.06% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. UBS Group dropped their price target on Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Weiss Ratings raised Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. increased their price target on Packaging Corporation of America from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America reduced their price objective on shares of Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, September 11th. Finally, Wells Fargo & Company cut their target price on Packaging Corporation of America from $246.00 to $245.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $275.43.

Packaging Corporation of America Stock Performance

NYSE PKG traded up $4.49 during trading on Monday, hitting $251.78. 294,236 shares of the company’s stock traded hands, compared to its average volume of 802,365. Packaging Corporation of America has a 12-month low of $191.50 and a 12-month high of $259.98. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 1.98 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.86 and a current ratio of 2.94. The business has a 50 day moving average of $237.01 and a 200-day moving average of $231.08.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.11. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.61 billion. Packaging Corporation of America had a net margin of 7.40% and a return on equity of 19.63%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.73 EPS. As a group, equities research analysts anticipate that Packaging Corporation of America will post 10.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Donald R. Shirley sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the transaction, the vice president directly owned 19,110 shares in the company, valued at $4,791,068.10. The trade was a 38.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Thomas A. Hassfurther sold 7,063 shares of Packaging Corporation of America stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following the completion of the transaction, the president owned 202,891 shares of the company’s stock, valued at $51,534,314. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 40,391 shares of company stock worth $10,196,101. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in Packaging Corporation of America by 18.4% in the 3rd quarter. Signaturefd LLC now owns 1,242 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 193 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of Packaging Corporation of America by 27.6% in the third quarter. Citizens Financial Group Inc. RI now owns 1,268 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 274 shares during the last quarter. Wedbush Securities Inc. increased its position in Packaging Corporation of America by 8.9% during the 3rd quarter. Wedbush Securities Inc. now owns 1,596 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 130 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Packaging Corporation of America by 14.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,978 shares of the industrial products company’s stock worth $683,000 after buying an additional 368 shares during the last quarter. Finally, River Street Advisors LLC lifted its position in shares of Packaging Corporation of America by 3.5% during the 3rd quarter. River Street Advisors LLC now owns 5,840 shares of the industrial products company’s stock valued at $1,339,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE:PKG) is a manufacturer of corrugated packaging and containerboard products serving businesses primarily in the United States. Its products include shipping boxes, retail packaging, displays, protective packaging and specialty corrugated solutions used to transport and present a broad range of consumer and industrial goods.

The company also produces uncoated freesheet paper and related paper products for commercial printing, office use, publishing, converting and other applications.