Packaging Co. of America (NYSE:PKG) Given New $209.00 Price Target at Wells Fargo & Company

Packaging Co. of America (NYSE:PKG) had its price objective cut by stock analysts at Wells Fargo & Company from $236.00 to $209.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.00% from the company’s current price.

PKG has been the topic of several other research reports. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial restated a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $228.50.

Packaging Co. of America Stock Down 3.0 %

NYSE PKG traded down $5.41 during trading hours on Tuesday, reaching $175.63. 1,355,973 shares of the company’s stock were exchanged, compared to its average volume of 971,369. 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 company has a market capitalization of $15.79 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company’s 50-day moving average is $204.73 and its two-hundred day moving average is $221.42. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors have recently modified their holdings of PKG. Vanguard Group Inc. increased its stake in shares of Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after buying an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Packaging Co. of America by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after acquiring an additional 132,836 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Packaging Co. of America by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after buying an additional 29,427 shares during the last quarter. Invesco Ltd. grew its stake in shares of Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after acquiring an additional 14,775 shares during the period. Finally, Boston Partners raised its stake in Packaging Co. of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock valued at $352,305,000 after buying an additional 101,755 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Company Profile

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.