Jefferies Financial Group Downgrades Packaging Co. of America (NYSE:PKG) to Hold

Packaging Co. of America (NYSE:PKG) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat.com reports. They currently have a $205.00 price objective on the industrial products company’s stock, down from their prior price objective of $245.00. Jefferies Financial Group’s price objective suggests a potential upside of 8.87% from the stock’s current price.

Other research analysts have also issued research reports about the company. Truist Financial lowered their price target 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Wall Street Zen downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, UBS Group started coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.67.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $188.30 on Monday. The firm has a fifty day simple moving average of $189.04 and a two-hundred day simple moving average of $207.65. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The company has a market capitalization of $16.94 billion, a PE ratio of 21.09, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion for 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%. Research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC lifted its stake in shares of Packaging Co. of America by 39.0% in the 1st quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 57 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of 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 worth $39,000 after buying an additional 57 shares during the period. Sigma Planning Corp lifted its position in shares of Packaging Co. of America by 2.3% during the 4th quarter. Sigma Planning Corp now owns 2,568 shares of the industrial products company’s stock valued at $578,000 after buying an additional 58 shares in the last quarter. Cary Street Partners Financial LLC lifted its stake in shares of Packaging Co. of America by 0.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 8,759 shares of the industrial products company’s stock valued at $1,735,000 after buying an additional 59 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in Packaging Co. of America by 4.8% in the 1st quarter. Horizon Investments LLC now owns 1,291 shares of the industrial products company’s stock worth $256,000 after buying an additional 59 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

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.