Packaging Corporation of America (PKG) : Fridays money flow data in Packaging Corporation of America (PKG) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $2.29 million, whereas, $1.02 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 2.24, in favor of the bulls. The total money flow into the stock was $1.27 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $1.4 million. The total value of block trades done on upticks was $1.4 million. Packaging Corporation of America (PKG) fell $0.25 and traded at $73.56, down -0.34% for the day, over previous days close. On a weekly basis, the shares are -0.63% over the previous weeks close.
Packaging Corporation of America (PKG) : 8 investment research analysts covering Packaging Corporation of America (PKG) have an average price target of $73.38 for the near short term. The highest target price given by the Brokerage Firm to the stock is $80 and the lowest target is $65 for the short term. Analysts expect the variance to be within $4.37 of the average price.
Packaging Corporation of America (NYSE:PKG): stock turned positive on Friday. Though the stock opened at $73.82, the bulls momentum made the stock top out at $74.53 level for the day. The stock recorded a low of $73.405 and closed the trading day at $74.34, in the green by 0.72%. The total traded volume for the day was 752,580. The stock had closed at $73.81 in the previous days trading.
In a related news,The officer (SVP-Containerboard) of Packaging Corp Of America, Carter Charles J. sold 6,463 shares at $65.63 on April 22, 2016. The Insider selling transaction had a total value worth of $424,167. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Companys operations are primarily in the United States and it has converting operations in Europe, Mexico, and Canada. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Companys corrugated products manufacturing plants produce a variety of corrugated packaging products, including shipping containers used to protect and transport manufactured goods, multi-color boxes, and displays. It manufactures its Packaging products at five containerboard mills, one containerboard machine, corrugated manufacturing operations, and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities, and foreign exchange gains and losses.