Packaging Co. of America (NYSE:PKG) Rating Lowered to Hold at Jefferies Financial Group

Packaging Co. of America (NYSE:PKG) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Monday, Marketbeat Ratings reports. They presently have a $205.00 price target on the industrial products company’s stock, down from their prior price target of $245.00. Jefferies Financial Group’s target price indicates a potential upside of 8.87% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. UBS Group initiated coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price objective on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Wall Street Zen cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, Truist Financial decreased their target price on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $209.67.

Packaging Co. of America Stock Performance

PKG opened at $188.30 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.41 and a beta of 0.84. The company has a fifty day moving average of $189.04 and a 200 day moving average of $207.65. Packaging Co. of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PKG. Clearstead Trust LLC increased its holdings in Packaging Co. of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock valued at $26,000 after buying an additional 70 shares during the period. TCTC Holdings LLC increased its holdings in shares of Packaging Co. of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 70 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Packaging Co. of America in the 1st quarter worth $39,000. Geneos Wealth Management Inc. grew its stake in Packaging Co. of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 57 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Packaging Co. of America in the first quarter worth about $40,000. Hedge funds and other 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.