The stock of Packaging Corp Of America (NYSE:PKG) last traded at $183.77, up 1.96% from the previous session.
PKG stock price is now 1.15% away from the 50-day moving average and 11.24% away from the 200-day moving average. The market capitalization of the company currently stands at $16.50B.
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With the price target enhanced from $187 to $191, Wells Fargo Upgraded its rating from Equal Weight to Overweight for Packaging Corp Of America (NYSE: PKG). On April 12, 2024, Exane BNP Paribas Downgraded its previous ‘Outperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $182, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, GOWLAND KAREN E, Director bought 300 shares of the company’s stock on May 15 ’24. The stock was bought for $54,618 at an average price of $182.06. Upon completion of the transaction, the Director now directly owns 916 shares in the company, valued at $0.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 06 ’24, EVP & CFO Mundy Robert P. sold 10,000 shares of the business’s stock. A total of $1,825,100 was realized by selling the stock at an average price of $182.51. This leaves the insider owning 46,454 shares of the company worth $8.54 million. A total of 2.11% of the company’s stock is owned by insiders.
During the past 12 months, Packaging Corp Of America has had a low of $122.20 and a high of $191.27. As of last week, the company has a debt-to-equity ratio of 0.78, a current ratio of 2.46, and a quick ratio of 1.74. The fifty day moving average price for PKG is $181.694 and a two-hundred day moving average price translates $165.3641 for the stock.
The latest earnings results from Packaging Corp Of America (NYSE: PKG) was released for 2024-03-31. The net profit margin was 9.18% and return on equity was 18.39% for PKG. The company reported revenue of $1.98 billion for the quarter, compared to $1.98 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.16 percent.
