Packaging Co. of America (NYSE:PKG – Get Free Report) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,150,000 shares, a drop of 16.1% from the February 13th total of 1,370,000 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average trading volume of 901,100 shares, the days-to-cover ratio is currently 1.3 days.
Analysts Set New Price Targets
PKG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.
View Our Latest Analysis on PKG
Institutional Investors Weigh In On Packaging Co. of America
Packaging Co. of America Trading Down 0.5 %
Shares of PKG stock opened at $197.43 on Tuesday. The stock’s 50-day moving average price is $216.47 and its 200-day moving average price is $222.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.
Packaging Co. of America (NYSE:PKG – Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Equities research analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.53%. Packaging Co. of America’s payout ratio is currently 55.99%.
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.
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