Wells Fargo & Company Has Lowered Expectations for Packaging Co. of America (NYSE:PKG) Stock Price

Packaging Co. of America (NYSE:PKG) had its price target reduced by research analysts at Wells Fargo & Company from $236.00 to $209.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 19.00% from the company’s current price.

Other research analysts have also issued reports about the company. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial reissued a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group raised 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 report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

Packaging Co. of America Price Performance

PKG traded down $5.41 on Tuesday, hitting $175.63. 1,355,973 shares of the company’s stock traded hands, compared to its average volume of 971,369. 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 one year low of $169.00 and a one year high of $250.82. The company’s 50 day simple moving average is $204.73 and its 200-day simple moving average is $221.42. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Institutional Investors Weigh In On Packaging Co. of America

A number of institutional investors have recently added to or reduced their stakes in PKG. Sanctuary Advisors LLC grew its position in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 2,946 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $293,000. AlphaQuest LLC lifted its position in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after buying an additional 1,954 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $6,966,000. Finally, Sciencast Management LP bought a new position in shares of Packaging Co. of America in the fourth quarter valued at about $2,853,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.