Packaging Co. of America (NYSE:PKG) Price target raised to $176.00
Packaging Co. of America (NYSE: PKG – Get Review) had its price target raised by Argus from $160.00 to $176.00 in a research note published on Friday, reports The Fly. Argus’ price target suggests a potential upside of 8.23% from the company’s current price.
PKG has been the subject of several other research reports. UBS Group moved shares of Packaging Co. of America from a “sell” rating to a “neutral” rating and raised its price target for the company from $127.00 to $154.00 in a report research on Thursday, February 17. Deutsche Bank Aktiengesellschaft raised its price target on shares of Packaging Co. of America from $141.00 to $158.00 and gave the stock a “holding” rating in a Monday, April 18 report. Zacks Investment Research moved shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating and set a price target of $172.00 on the stock in a Wednesday report. February 2. StockNews.com began covering Packaging Co. of America stocks in a research note on Thursday, March 31. They set a “buy” rating on the stock. Finally, Seaport Res Ptn downgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating in a Friday, Jan. 28 research note. Five investment analysts gave the stock a hold rating, three issued a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat.com, Packaging Co. of America has an average rating of “Buy” and an average price target of $162.63.
Shares of NYSE PKG traded down $0.23 in Friday trading, hitting $162.62. 3,117 shares of the company were traded, against an average volume of 704,986. The company has a debt ratio of 0.69, a quick ratio of 2.07 and a current ratio of 3.09. Packaging Co. of America has a fifty-two week low of $124.78 and a fifty-two week high of $168.50. The company has a market capitalization of $15.24 billion, a price/earnings ratio of 18.44, a P/E/G ratio of 3.04 and a beta of 0.83. The company’s 50-day moving average is $154.31 and its 200-day moving average is $142.88.
Packaging Co. of America (NYSE:PKG – Get Rating) last reported results on Monday, April 25. The industrial products company reported earnings per share of $2.72 for the quarter, beating the Zacks consensus estimate of $2.52 by $0.20. The company posted revenue of $2.14 billion in the quarter, versus a consensus estimate of $2.05 billion. Packaging Co. of America achieved a net margin of 10.88% and a return on equity of 25.55%. The company’s revenue increased by 18.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.77. On average, analysts predict Packaging Co. of America will post EPS of 10.91 for the current year.
In other Packaging Co. of America news, SVP Bruce A. Ridley sold 3,481 shares in a trade dated Friday, February 11. The shares were sold at an average price of $148.60, for a total transaction of $517,276.60. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. Insiders of the company own 1.60% of the shares of the company.
Institutional investors and hedge funds have recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new stake in Packaging Co. of America in Q1 valued at $25,000. Avondale Wealth Management acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $26,000. Confluence Wealth Services Inc. acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $27,000. SouthState Corp bought a new stake in Packaging Co. of America during the third quarter worth about $29,000. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of Packaging Co. of America during the first quarter worth approximately $38,000. 88.94% of the shares are held by institutional investors.
Packaging Co. of America Company Profile (Get a rating)
Packaging Corporation of America manufactures and sells corrugated cardboard and corrugated packaging products in the United States. The Company operates through the packaging and paper segments. The Packaging segment offers various corrugated and corrugated cardboard packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multicolored boxes and displays that help market the packaged product at retail outlets; and protective honeycomb packaging products, as well as packaging for meat, fresh fruits and vegetables, processed foods, beverages and other industrial and consumer products.
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